Interest on us saving bonds and treas obligations

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  • arlo
    Senior Member
    • Feb 2008
    • 285
    #1

    Interest on us saving bonds and treas obligations

    Client Received a statement from the Treasury Department showing ACCRUED INTEREST. Is this to reported as income. Thanks in advance
    Tags: None
    • DaveO
      Senior Member
      • Dec 2005
      • 1453
      #2
      If they cashed H or HH bonds the accrued interest would be the interest earned on the bonds when they were E or EE bonds. Still taxable, same rules.
      In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
      Alexis de Tocqueville

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