Such that the accrued interest is reported by the recipient down the road when he cashes them in ???
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Can you gift savings bonds?
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Nothing wrong with that: but
Originally posted by LCP View PostSuch that the accrued interest is reported by the recipient down the road when he cashes them in ???
bonds with U S Treasury.
never heard of it being done.ChEAr$,
Harlan Lunsford, EA n LA
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Assuming the potential donor paid for the bonds with his/her funds, then a retitling of the bonds to a donee requires the accrued interest to be recognized by the DONOR in the year of the change.
This seems to be an example of the Assignment of Income Doctrine - it can't be done. The interest earned must be reported by the one who earned the interest.
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