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Thread: Tax on savings bonds

  1. 01-27-2010, 01:50 AM #1
    dave1231959
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    Default Tax on savings bonds

    I'm getting ready to cash in my savings bonds (EE and I) and had a question: Am I right thinking that I only have to pay 15% tax on theactual interest from the bonds?

    thanks
    Dave
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  2. 01-27-2010, 02:05 AM #2
    Show-me's Avatar
    Show-me
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    Default Re: Tax on savings bonds

    Quote Originally Posted by dave1231959 View Post
    I'm getting ready to cash in my savings bonds (EE and I) and had a question: Am I right thinking that I only have to pay 15% tax on theactual interest from the bonds?

    thanks
    Dave
    The interest is taxed as ordinary income at tax time.
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  3. 01-27-2010, 10:54 PM #3
    dave1231959
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    Default Re: Tax on savings bonds

    Thank you Sir!
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  4. 01-28-2010, 02:53 PM #4
    Scout333
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    Default Re: Tax on savings bonds

    Some states exempt savings bonds interest. Worth checking on.
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