cashing savings bonds
Hello,
My daughter has several EE and I bonds that go back to 2002 to 2008.
She would like to cash them in to help pay towards her student loans.
I thought I read that the EE bonds issued since 2005 will double in value in 20 yrs.
The earliest EE bond she has is dates 4/2002.
She is not working full time, so not sure if she will owe taxes if she cashes them.
What do you recommend?
Thank you!
Terry Says
She will owe taxes on all the gains. But since she is not working, the gains will be taxed at a very low rate. To learn how to cash in those bonds, read this: https://treasurydirect.gov/savings-bonds/cashing-a-bond/
