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Level 3
March 17, 2020

US SAVINGS BONDS

  • March 17, 2020
  • 1 reply
  • 6 views

Is their a way some one can gift a savings bond in their name to someone else without the person making the having to pay taxes?

I have an elderly client who gets hit with a large tax bill when she makes gifts of us savings bonds.

Thanks for any help.

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    1 reply

    Just-Lisa-Now-
    Intuit Community Champion
    March 17, 2020

    You want to nominee the bond interest to someone else?

    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
    taxmanbxbAuthor
    Level 3
    March 19, 2020

    How can they nominee the bond interest to the person they are giving the US SAVINGS BOND to?

    Can they their bank is saying no.

    Thanks, for any help.

    sjrcpa
    Level 15
    March 19, 2020

    I think if you gift the bonds the tax consequences go along with the gift.

    I think the US Savings Bond website contains this info. I researched this about a year ago and think that's where I found it.

    The more I know the more I don’t know.