Savings bond interest

[TAX4US]

TP deceased(2018) holding bonds fully matured 5 years ago. TP did not include them in their returns for any year. Estate got bonds cashed early in 2019. Can I put this interest on the final return of the deceased or do I include them as income for the 1041 to be filed next year? I think I read I could put them on the final return of the deceased

[Lion]

The interest earned up to the DOD can go on the final return. And then the remaining interest on the 1041. I think -- look it up.

[TAXNJ]

Very basic. It is explained very well in The Tax Book on how to handle. Have you researched it?

[New York Enrolled Agent]

TP deceased(2018) holding bonds fully matured 5 years ago. TP did not include them in their returns for any year. Estate got bonds cashed early in 2019. Can I put this interest on the final return of the deceased or do I include them as income for the 1041 to be filed next year? I think I read I could put them on the final return of the deceased

Read Rev Ruling 68-145

[TAXNJ]

Read Rev Ruling 68-145

and The Tax Book starting at 21-4

[TaxGuyBill]

fully matured 5 years ago.

Doesn't that mean it goes on the 5-year-old tax return?

https://www.irs.gov/publications/p550#en_US_2017_publink10009904

As a side note, I'm not currently in a position to look up the Rev Ruling 68-15 or Tax Book 21-4, so it is possible that they say otherwise. However, Publication 550 seems to say the only option is to report it on the 5-year-old tax return.

[TAXNJ]

Doesn't that mean it goes on the 5-year-old tax return?

https://www.irs.gov/publications/p550#en_US_2017_publink10009904

As a side note, I'm not currently in a position to look up the Rev Ruling 68-15 or Tax Book 21-4, so it is possible that they say otherwise. However, Publication 550 seems to say the only option is to report it on the 5-year-old tax return.

Think the issue of reporting savings bonds past maturity was a post a few months ago with various replies

[TAXNJ]

TP deceased(2018) holding bonds fully matured 5 years ago. TP did not include them in their returns for any year. Estate got bonds cashed early in 2019. Can I put this interest on the final return of the deceased or do I include them as income for the 1041 to be filed next year? I think I read I could put them on the final return of the deceased

See the replies to your same prior questions of Savings Bonds in your a 3-7-19 post and also your 12-5-18 post. Haven’t you resolved this issue with the reply posts given then?

[TAX4US]

I am sorry. This was put up by accident when we reloaded a new computer. Not sure how it got here. Issue resolved. My thanks to all.