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SensibleandHourly
Level 6
January 28, 2025
Solved

Savings Bond Tax Reporting

  • January 28, 2025
  • 4 replies
  • 20 views

Hello, 

Client cashed in a savings bond this year. Curious who she will receive a tax document from - the bank where she cashed it? Or the governmental entity that issued it? 

Thank you, 

Dawn

This topic has been closed for replies.
Best answer by Camp1040

I have always seen the 1099-Int, come from the bank where cashed out.

4 replies

Camp1040
Camp1040Answer
Level 10
January 28, 2025

I have always seen the 1099-Int, come from the bank where cashed out.

SensibleandHourly
Level 6
January 28, 2025

Thank you to everyone who replied, even when it comes to Tesla. 😉 

George4Tacks
Level 15
January 28, 2025

My best guess and hazy recall says the bank.

Answers are easy. Questions are hard!
PATAX
Level 12
January 28, 2025

I believe usually from the financial institution.

George4Tacks
Level 15
January 28, 2025

WOW! a threefer!

Answers are easy. Questions are hard!
BobKamman
Level 15
January 28, 2025

But what about the dog that did not bark in the night?  Client did not cash the bond in the year it stopped collecting interest, even though it becomes taxable at that point anyway.  Who sends the 1099?