Can I reinvest savings bonds into anything so the interest does not get taxed?
March 14, 2009 by How Savings Bonds Work
Filed under More Bonds Answers
Can you answer pat4620’s question about Bonds?:
I have quite a few savings bonds that were bought by me and/or given as gifts for my kids for their education. They have both graduated college and we did not use them all. I would like to cash them and give the money to my kids, but I don’t want to get socked with all that interest. Can I reinvest the money into something so that it does not get taxed?
How Much Is My Savings Bond Worth
I have quite a few savings bonds that were bought by me and/or given as gifts for my kids for their education. They have both graduated college and we did not use them all. I would like to cash them and give the money to my kids, but I don’t want to get socked with all that interest. Can I reinvest the money into something so that it does not get taxed?
How Much Is My Savings Bond Worth
Bonds Feedback: Afraid not.
Bonds Feedback: You cannot exchange ee bonds for hh bonds. That program closed in 2004. If you cash the bonds, you will owe federal tax on the interest. There are no tax free exchanges available.
Bonds Feedback: Check this site out .. exactly what you need
Bonds Feedback: No. Whether or not you pay taxes on interest is determined by the investment that paid it. What you do with the interest after you earn it does not matter.