I bonds
I followed your advice in the Chicago tribune and purchased i bonds and treasury bills in October 2022. Now I received a message saying reinvestment request has been processed for $195.15. What does this mean will I have to pay this?
Terry Says
No, this means that your treasury BILLs did an automatic rollover — and this is the interest, which dropped right into your account. Next January, you’ll receive a 1099 showing all the interest you earned in 2023, so you can pay income taxes on it– but not state taxes. Nice job!
