US savings bond interest reporting

[joanmcq]

On a series EE savings bond, if the owners are listed as Jane Doe or Marvin Smith are they co-owners or owner and beneficiary?

[solomon]

On a series EE savings bond, if the owners are listed as Jane Doe or Marvin Smith are they co-owners or owner and beneficiary?

Would it not depend upon by whom the funds were provided - thinking out loud?

[travis bickle]

the way you posed the question,

On a series EE savings bond, if the owners are listed as Jane Doe or Marvin Smith are they co-owners or owner and beneficiary?

they would be co-owners.

i just did a google search on "u.s. savings bonds co-owners" and got a government website [my apologies, i did not attempt to memorize it] and, per that site, it says that the listing would be "P.O.D. . . . " [payable on death] in the case of a beneficiary.

[joanmcq]

We have parent and child. Parent bought bonds, cashed bonds, but child was first on the bond. Parent is trying to say interest belongs to kid. All are alive and well. So since it was Jane Doe or Marvin Smith and Marvin cashed the bond the interest is reported by Marvin, correct?

[New York Enrolled Agent]

It appears Solomon is on target.

This is the headnote from Rev Ruling 54-143

Interest (increment in value) earned on a Series E United States savings bond registered in the names of two natural persons in the alternative as coowners but purchased entirely with the funds of one is all his income, even though he gratuitously permits the other to redeem the bond and retain the entire proceeds.