Other Tax Questions
Questions and comments on other topics covered in Fairmark.com, such as UTMA accounts, and any tax questions that don't fit our other categories.
Matured EE Bonds
Posted by: Sven, September 23, 2017 12:55AM
TP recently died owning significant amounts of EE bonds that began reaching maturity 5years ago. Interest was not reported along the way, nor was interest reported in the years of maturity.

Would I be right that a very, very large amount of IRD is going to have to be reported on the estate's 1041?
There is some IRS speak out there that says the interest should have been reported at maturity and other IRS speak which says if it was not reported in the years of maturity it's IRD. Thanks.

Re: Matured EE Bonds
Posted by: triad, September 23, 2017 02:12AM
Clearly you haven't read the publication that covered IRD. Nor have you read the publication that tells how to report investment income.

Both publications clearly state the options the executor has in reporting the income.



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