Tax Alert on I Bonds

If you’ve recently sold I Bonds and/or receive 1099s, Clark has an important tax tip for you.

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[stantonroyce]

The credit bureau breach resulted in most people's entire identity profile, SS#, everything, for sale on dark web. I then soon had 2 apps filled for SSA, and 3 for unemployment $. A time consuming nightmare. No compensation.

[johnnyretires]

Going to the treasurydirect website to print out my tax forms is the same as I do for my brokerage acct. So….

[charlesbyrneShowCommentsall]

It's the same as anything else. Just keep a folder called Tax events. When you redeem your I bond then print out the transaction record and put it in your folder. When you review your folder you'll see that and know you have to login and print out your 1099 INT or DIV. The same for deminimus returns.

[sammyvh]

With all the banks on the edge it's good to park some money in the Treasury. Printing a 1099 int is no biggy. I don't trust US mail anymore.

[KevinLogan-go]

Total mountain out of a molehill! Nothing difficult about printing out tax forms from the Treasury Direct website. This is not so different from printing out tax forms from any other financial institution, especially if you've opted to go paperless. Also, you can have taxes withheld for the interest you've earned when you redeem I Bonds directly on the Treasury Direct website. All very easy to do.

[karinhart]

I have had several I-bonds mature in last few years. Going to Treasury Direct for savings bonds interest info is on our annual checklist. However, since this is a big problem I just wrote emails to the President and my Congress critters that the Treasury needs to send 1099s. No sense in getting grumpy about this without contacting our electeds.

[bshef]

....Thanks Clark - we purchased Aug 2022 and will be selling 1st of move the money either to Money market (HYSA) or over to fill up 24 Roth and remainder in MM

[jasoncrawford]

How/where does one download 1099's from the IRS web site?

[Thisishard]

It’s simple, you just go on treasury direct .They list every single transaction. I also have 20 % tax taken out everytime a tbill matures for piece of mind.

[Emmitt_otter]

I got an email from the treasury back in January that said I had a 1099 waiting.

[chrisforker]

Never ever Going to buy any individual bond, period!

[keithmachado-ppfv]

If you cash in a paper bond you will get a tax form.

[brichard]

The treasury direct website does not allow you to print a form 1099 you need to copy everything and paste into a Word document which you can then print. And if you believe they don't intentionally not send you tax information or make it easy to print because they're hoping to take that money back as tax penalties, I have an honest Georgia DA to sell you😂 oh, and maybe you should tell people how difficult it is to cash in paper bonds now . Credit Unions like LGE will not help you

[bluesky]

They are a waste of time and their base rate is too low to give a crap. Also, this 10k limit every year makes them even dumber. I-Bonds are dead to me.