Follow this walkthrough to get the 1099 form for cashing out I Bonds and report the interest income in tax software TurboTax, H&R Block, and FreeTaxUSA.
Treat TreasuryDirect as a delicate object. Do as little as possible with it. Stay on the beaten path. Be extra careful not to get your account locked.
TreasuryDirect normally doesn’t withhold taxes from the proceeds when you sell I Bonds. If you prefer to have taxes withheld, here’s how to do it.
Buying Treasuries can complicate your taxes depending on which ones you buy and how you buy them. See how to keep it simple and avoid tax headaches.
See which older I Bonds you should cash out to buy new ones for a higher fixed rate, the best time to cash out, and how to manage the annual purchase limit.
It’s time to deliver the I Bonds you pre-purchased as a gift last year. The owner can edit the registration and grant you rights after you deliver it.
You can name only one beneficiary on a savings bond. If you’d like to name two or more beneficiaries, you have to split your bond into multiple parts.
Do this trick when you buy I Bonds and use a secure password stored in a password manager instead of the virtual keyboard on the TreasuryDirect website.
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.
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.
You set a second owner or beneficiary when you buy I Bonds in TreasuryDirect. You can still add a joint owner or change the beneficiary at any time.
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.