Tax on savings bonds

[dave1231959]

I'm getting ready to cash in my savings bonds (EE and I) and had a question: Am I right thinking that I only have to pay 15% tax on theactual interest from the bonds?

thanks
Dave

 

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I'm getting ready to cash in my savings bonds (EE and I) and had a question: Am I right thinking that I only have to pay 15% tax on theactual interest from the bonds?

thanks
Dave

The interest is taxed as ordinary income at tax time.

 

[dave1231959]

Thank you Sir!

 

[Scout333]

Some states exempt savings bonds interest. Worth checking on.