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|Can I transfer my Series E Bonds?
By The-Adviser.com -
|New York -
Series E Bonds may be transferred to grandchildren or children - however - the tax on
income earned will not be.
When transferring bonds - there are two potential taxes: gift taxes and income taxes. Gift taxes are paid by the donor, not the receipt. But you can give up to $10,000 a year each to as many individuals as you want without incurring any gift taxes. The amount of your gift will be the value of the bonds at the time of the transfer. As for income taxes, the bond owner must pay what's due on the interest accrued between the bond's original purchase and their transfer to a new owner. If the bonds were purchased by yourself and say your children were listed as the co-owners, you would still all taxes on all the amount A pro-rata share would be applicable if you are a co-owner of a bond.
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