Savings Bonds and Taxes 101
April 9, 2017 3:02 PM Subscribe
Super simple question. Let's say a relative bought you (made-up numbers!) $30k in savings bonds when you were a child. You cashed out the bonds as an adult for (again made-up numbers!) $45k in 2016. Do you owe taxes on the full $45k or just on the $15k interest? I know there a lots of nuances here. But before I ask my accountant more specific questions, I want to make sure I'm heading down the right path. And I can't seem to find a simple answer to this question online!