Ask Terry Questions EE US bonds

EE US bonds

By Terry Savage on December 11, 2023 | Chicken Money

I’m aware that taxes must be paid on the interest on the bonds, however, can I gift my grandchildren a mature ee bond and let them be responsible for the taxes. Their incomes are much less than mine and the taxes should be much less than mine should I cash them in.

Terry Says

Nope. Sorry, but you can’t do that!! You’ll still be the one who owes taxes. Cash them in, pay the taxes (no state income tax!) and gift them the money, or buy new bonds in their names (assuming they are adults).

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