Tax TipsBudget & Finance

Taxes and Savings Bond Interest

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We purchased savings bonds for our children when they were young to use for education, but they did not mature enough until children were out of college. The bonds were redeemed and the money was given to each child as gifts from us and deposited into their accounts. The totals each were under the $13,000. Since the bond interest was a gift to each child/adult, do we still have to show the interest on our tax return?

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By Dee

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