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US SAVINGS BONDS

taxmanbxb
Level 2

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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4 Comments 4
Just-Lisa-Now-
Level 15
Level 15

You want to nominee the bond interest to someone else?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
taxmanbxb
Level 2

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.

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sjrcpa
Level 15

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.


Ex-AllStar
taxmanbxb
Level 2

Thank you.  Not all Banks understand this.

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