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Frequently Asked Tax Questions

Interest, Dividends, Other Types of Income - Savings Bonds

  1. I cashed some Series E, Series EE and Series I savings bonds. How do I report the interest?

Rev. date: 01/08/2015

I cashed some Series E, Series EE and Series I savings bonds. How do I report the interest?

You may choose to report the interest on savings bonds as earned annually, or in the year the bonds are redeemed, disposed of, or mature, whichever is earliest. If you have not reported the increase in the redemption value of the bonds as interest annually, you must report all interest in the year the bonds are redeemed, disposed of, or mature, whichever is earliest.
Exception: Some or all of the interest may be excludable from your gross income if you pay qualified higher education expenses for yourself, your spouse or your dependent (for whom you claim an exemption) during the year.