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Yes, it's correct. That said - if you buy $50k of bonds for one person, with a current base rate of 0%, you are making a 4 or 5 year bet that inflation rates will continue to be high, since you can only give $10k/year to the receiver of the gift, and the bonds can't be cashed until the receiver actually gets the bonds.

Good point!

However, there is one thing I haven't ascertained yet ... what happens to gift bonds in your account that haven't been transferred to the person, and that person dies before you transfer the gift to them.
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