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Author: WallyJr One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5748  
Subject: Re: US EE Savings Bonds Date: 1/28/2013 10:49 PM
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My mother died and left savings bonds via a will to my sister and me. They are titled in her name POD to my father who died several years ago.

Do we have to cash the bonds for the purpose of settling her estate? We would prefer to not cash them while they are still paying interest because of their rate of return.

Does her estate pay the taxes on the bonds? Do the taxes have to be paid in the year of her death or when the bonds are cashed?

Any help would be much appreciated.



For the savings bond questions you can go to www.Treasurydirect.gov. There you will find out all the information on what you can or can't do and the forms you need. There is also a link to the IRS pubilcations for estates and executors. If your mother died in 2012 or 2013, the executor can elect to report accumulated interest up until the time of her dead on her final return. The whoever is preparing the return needs to run the numbers to see if it's worth while. This information is in the IRS publicstions.

The Bureau of Public Debt had a Savings Bond Wizard program at www.savingsbondwizard.gov that you could download. Enter in series, demonination, serial number and issue date and it would calculate accumulated interest. The program could keep track of multiple bonds.
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