Ask Terry Questions Treasury Direct bonds and 2023 taxes

Treasury Direct bonds and 2023 taxes

By Terry Savage on February 28, 2024 | Chicken Money

Terry, do I need to report the $10,000 purchase of a Treasury Bond in 2023?
I’m 84 years and purchased this on your advice. My daughter does my taxes and she isn’t knowledgeable about this.

Terry Says

If you purchased a Series I bond, you don’t pay Federal taxes until you cash it in — after the 5 year penalty period.
If you purchased Treasury BILLS, check your message box at your Treasury Direct account. If any of those T-bills MATURED in 2023, there will be a statement of interest 1099 waiting for you in your messages. But if you purchased T-bills late in the year, and they haven’t yetmatured, the interest won’t be counted until 2024.



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