interest statements for tax purposes on I-Bonds and T-Bills
How will I know how much interest I earned for tax purposes of my I-Bonds and T-BIlls. Do I get a statement from my bank or from the government once I cash them in or they are sold?
Thanks for all you do Terry!
Terry Says
You’ll get a 1099 from Treasury (or it will be posted in your TreasuryDirect account for you to download) for interest earned on T-bills.
For Savings Bonds, you don’t pay tax on the accumulated income until you cash them in!
And there is no state income tax on either.
