You can report accrued interest from your I Bonds every year but it gets complicated in real life. Keep it simple and go with the default.
Latest Blog Posts
Overpay Your Taxes to Buy $5,000 in I Bonds
I Bonds offer a better yield than all other safe investments. After you max out your annual limit, you can buy another $5,000 by overpaying your taxes.
Where to Get a Signature Guarantee for I Bonds at TreasuryDirect
When you open a TreasuryDirect account to buy I Bonds, sometimes you need a signature guarantee. Ask nicely at a bank, a credit union, or a broker.
Tax Software: Buy the Download, Not the Online Service
Although it sounds like more old school, the software you install on your own computer is actually both less expensive and more powerful.
How to Add a Joint Owner or Change Beneficiary on I Bonds
You set a secondary owner or beneficiary when you buy I Bonds in TreasuryDirect. You can still add a joint owner or change the beneficiary at any time.
What If Congress Bans Backdoor Roth
Congress is considering banning backdoor Roth and mega backdoor Roth. Do these to catch the last opportunities in 2021 and 2022.
Buy I Bonds as a Gift: What Works and What Doesn’t
I Bonds bought as a gift counts toward the recipient’s purchase limit. Buying as gift for your spouse works when the high interest rates are only temporary.
New IRS Required Minimum Distribution (RMD) Tables
The IRS has new RMD tables effective January 1, 2022. See how much you are required to withdraw from your IRAs.
Buy I Bonds for Your Business: Sole Proprietorship, LLC, S-Corp
You can buy another $10,000 in I Bonds per calendar year in the name of your business but they will be subject to judgments against the business.
Buy I Bonds in a Child’s Name: You Can, But Should You?
You can buy I Bonds in your kid’s name but you should first decide whether to add to their 529 plan or keep full control of the money in your own name.