Ask Terry Questions 30 year I bonds

30 year I bonds

By Terry Savage on May 15, 2023 | Chicken Money

I have inherited 2 30 year I bonds that will mature in 2030. If I die before I can cash them, I’m 83, how are taxes paid. Is my daughter responsible?

Terry Says

Yes, your heirs will be responsible. But are the bonds in YOUR name? Did you reregister then after you inherited them? The applicable taxes should have been paid at that time. If not, at maturity, only the estate of the person who owned them, will be able to cash them in and pay taxes owed!
Of course, you could just hand them to your daughters, and leave that job to them after your passing, but it will be complicated!!

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