US Savings Bonds

Posts Tagged ‘us savings bonds name change’

Question: Cashed a savings bond from my grandmother in my name, do I claim the interest on my taxes?

The interest was $8000 plus change, I am a stay at home mother (unmarried, but live with my sons father) and have had no other income this year. I did not have any income last year, and did not file a return.

Answer: Federal yes, State, no provided you have to file at all.

Green@Google: M. Sanjayan

Question: How can I find Savings Bonds that were bought for me?

My Grandmother would always talk about buying us grandkids saving bonds for our birthdays. I think she was telling the truth, the problem is her six kids left behind (including my mom) when she died. I think someone stole them because I haven’t heard a word about it since, it’s been 3 years now. Is there a way to track a bond(s) in my name? Is it possible for my relative or mom to have cashed them themselves, or changed the name on them to my son’s name? basically, can you mess with those once they’re bought?

Answer: The owner of a savings bond receives a registered certificate and
unlike other Treasury securities, Savings Bonds cannot be
re-sold or given away! They can be purchased directly from
the Treasury, commercial banks and sometimes through
employee savings plans. If you have no certificate and have
no real proof of ownership, it may be difficult getting your hands
on them. I would suggest starting with the U S Treasury Dept.
The actual purchase should be on record, but for you to be able
to call it yours, your name has to appear on it as the actual
owner. If it doesn’t and without a good attorney, I wouldn’t count
on getting it. But find comfort in knowing that if someone does
have them and the names that appear on them are different from thier own, the are absolutely worthless to them! GOOD LUCK!

Senate Session 2010-04-20 (10:49:40-11:45:08)