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US Savings Bond

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jmd00ley

Junior Member
What is the name of your state? Georgia

Back in the 1980's my grandmother took out a US Savings Bond for me. She passed away in 2005. Upon her death, I cashed the US Savings Bond. What would be the basis for the bond?
 


abezon

Senior Member
The fair market value of the bond when she died. Be prepared to show that interest reported under your name is really hers & nominee it to her. You'll need her SSN.
 

Snipes5

Senior Member
I disagree. If the bond was purchased in your name, it was a gift, and the basis is what she paid for it, unless it was in her name, and you inherited it when she died.

I have several savings bonds that were purchased in my name by long deceased relatives. They are in my name only, and were given as gifts.

Snipes
 

LdiJ

Senior Member
Snipes5 said:
I disagree. If the bond was purchased in your name, it was a gift, and the basis is what she paid for it, unless it was in her name, and you inherited it when she died.

I have several savings bonds that were purchased in my name by long deceased relatives. They are in my name only, and were given as gifts.

Snipes
I agree. I also had savings bond given to me in the same manner, and so does my daughter.
 

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