How Do I Claim Cashed E Bonds on My Taxes?
- 1). Select your tax return form based on your total interest income, including the interest income from your cashed E bonds. If you have more than $1,500 in total interest income, you must use form 1040. If your interest income, including your E bonds, does not exceed $1,500, you are not restricted to any particular income tax form.
- 2). Report your interest income, including your E bond interest, on the interest income line of your tax form. For 2010, users of form 1040 or 1040A report their total interest income on line 8a. Users of form 1040EZ report their total interest income on line 2.
- 3). Complete Schedule B if your total interest income exceeds $1,500. The Internal Revenue Service requires you to document each source of your interest income and how much was paid to you by those sources. If you have $1,500 or less of total interest income, you do not have to complete Schedule B.
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