Reporting income on US Savings bonds

[bill18163]

What is the name of your state?What is the name of your state?Pennsylvania
Do you get a 1099 when you cash in US Savings Bonds? Does it show how much you have to pay tax on?(the profit you made). I ask the question because I didn't keep very good records on how much the bonds cost me.

 

[abezon]

The cash in price will be reported to the IRS. You then report the price you paid. You also have to determine whether you've been paying taxes on the accumulated interest every year, or whether all of it is taxable when the bond matures.