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- How Does a client who inherits U.S. savings bonds report interest income when redeemed? Is interest on the bonds only taxable to beneficiary from the date of death?
How Does a client who inherits U.S. savings bonds report interest income when redeemed? Is interest on the bonds only taxable to beneficiary from the date of death?
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userjack-t-pryo
Level 1
04-18-2021
01:52 PM
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1 Comment 1
BobKamman
Level 15
04-18-2021
03:27 PM
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If the person is lucky, the executor agreed to report the interest on the decedent's final return. Otherwise, it all goes on the taxpayer's return. Technically, this applies not when the bonds are "inherited," but when they are jointly owned or payable on death to the survivor.
