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Author: BookmFool Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121185  
Subject: Working on Christmas Date: 12/25/1999 1:01 PM
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First, I just wanted to let everyone know how fortunate they are not having to work today, Ptuey! Anyway, I was looking for something and am asking for help on locating it.

I cannot find this anywhere, but when EE savings bonds are cashed in, what rate is used to figure taxes on the interest? I thought you standard tax rate was used, say if you're in the 28% tax bracket, interest is taxed at 28%. I'm not using them for education, just putting the money to better use for about 18-20 years.

Thanks peoples.

Happy Holidays!

Rick
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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 23711 of 121185
Subject: Re: Working on Christmas Date: 12/25/1999 3:55 PM
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>> I cannot find this anywhere, but when EE savings bonds are cashed in, what rate is used to figure taxes on the interest? I thought you standard tax rate was used >>

You thought right. Interest is ordinary income. SAvings bond interest will be exempt from your state income tax, but for Federal it's right there with everything else.

Phil Marti
Tax Preparer

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