Premiums paid by the policy owner are normally not deductible for federal and state income tax purposes.
In some cases, when you have your savings bonds reissued, the transaction will be considered a reportable event for federal income tax purposes.
The principal co-owner is presumed to be responsible for reporting any interest for federal income tax purposes.
For federal income tax purposes, any lottery winnings over $2,500 in a fiscal year are taxable.
The interest on those bonds for federal income tax purposes is reportable for the year the bonds are redeemed.
For federal income tax purposes, the bankruptcy estate of an individual in a Chapter 7 or 11 case is a separate taxable entity from the debtor.
For federal income taxation purposes, determining basis depends on how the asset in question was acquired.
Partnerships are "flow-through" entities for United States federal income taxation purposes.
Furthermore, each member must certify that he will not deduct any part of club payments as business expenses for federal or state income tax purposes.
Find out if reissuing your bonds will be considered a reportable event for federal income tax purposes.