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Interest on us saving bonds and treas obligations

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    #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
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    #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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