I bought this a couple of years ago, forgot about it at tax time. Web site isn't helpful. I do know it is policy that no 1099s are issued. It is state tax exempt. Do I amend my 2025 return and add all the gain or do I need to amend 2024 too? How do I allocate between years?
I Bond value increased from $10k to $11.64. Treasury doesn't do 1099s. How to determine which tax year to report?
byu/Spanky_Simeon intax
Posted by Spanky_Simeon
5 Comments
Did you sell it or cash out?
US Treasury will issue 1099 the year you cash in the I Bond.
>You choose whether to report each year’s earnings or wait to report all the earnings when you get the money for the bond.
Either pay tax now on the interest earned each year, or wait until you redeem the bond or it matures to pay the tax all at once.
[https://www.treasurydirect.gov/savings-bonds/tax-information-ee-i-bonds/#id-is-savings-bond-interest-taxable–617007](https://www.treasurydirect.gov/savings-bonds/tax-information-ee-i-bonds/#id-is-savings-bond-interest-taxable–617007)
For I Bonds, you generally report the interest **in the year you redeem them**, not annually—so you don’t need to amend prior returns unless you had opted to report interest yearly. When you cash out, all accumulated interest is reported in that tax year. You can also model the timing impact (redeem now vs later) using Runable to see how it affects your tax situation
Thanks all