I was given an EE bond purchased in March of 1992 by my parents, the face value being 5K. I needed the money though bond has not reached maturity yet. I redeemed on Sept. 2, 2000 for $4,134, its value at that time. I now understand I will owe IRS at year end - BUT, what will I owe? Do I owe based on face value, redemption value, or the amount it increases our joint income at the end of the year? Our income is currently about 60K yearly, so this bumps it up to $64,134. HOW IS THE TAX BASED? I DESPERATELY NEED TO HOLD OUT MONEY TO PAY WHATEVER TAX I'VE INCURRED BY CASHING IT! ESPECIALLY SINCE I DIDN'T ASK MY HUSBAND'S ADVICE AND I JUST CAN'T FACE HIS UPSET WITHOUT BEING ABLE TO SAY, "HERE IS THE TAX I OWE FOR CASHING MY BOND". Any assistance you can render would be eternally, humbly and most gratefully accepted.Daisy Davis
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