T-bills — when do I pay taxes on the interest?
Hi Terry,
My wife and I invested 10,000 each in T-bills in October of 2022. I would like to pay my income tax on those at the end of each year. How do I do that?
Thanks
Terry Says
You don’t! You don’t owe the interest until the year in which the T-bills mature. That will be 2023.
At that point –in Jan 2024, you can log into your TD account and print out your 1099.
There is no state tax on T-bill interest.
