30-Year-Old Series EE US Savings Bonds: When are taxes due?

[parachute]

I have some very old EE Savings Bonds I have yet to redeem. A couple of these turned 30 years old in November and December of 2022. I have not yet redeemed these, though I plan on doing so very soon, as they are essentially "dead money", no longer earning any interest.

My question is, for unredeemed EE Bonds whose 30 yr maturity has been reached, are taxes due in the final year of maturity, OR the year of actual redemption (if later than year of final maturity)? For example, do I owe Year 2022 taxes for those couple of bonds? Or if I redeem them now, in 2023, will I instead report them as 2023 income?

[spiritrider]

My question is, for unredeemed EE Bonds whose 30 yr maturity has been reached, are taxes due in the final year of maturity, OR the year of actual redemption (if later than year of final maturity)? For example, do I owe Year 2022 taxes for those couple of bonds? Or if I redeem them now, in 2023, will I instead report them as 2023 income?

Taxes for Savings Bonds using the Cash Method are reported in the year of redemption, but not later than the year of maturity

In your case the taxes are reported for the 2022 tax year.

[parachute]

Taxes for Savings Bonds using the Cash Method are reported in the year of redemption, but not later than the year of maturity

In your case the taxes are reported for the 2022 tax year.

Thanks for the reply, spiritrider. I am just concerned, because won't I receive a 2023 1099-INT after I redeem those bonds, and will that raise flags on 2023's Return?

[spiritrider]

This is easily explained if you were to receive a CP-2000 notice.