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How much would taxes be on a $10000 US Savings Bond? |
I am thinking about cashing in my bond to buy investment property. Does anyone know what the tax rate would be? Thanks to all who answer. Nothing if you have been claiming the interest earned all along, or at most the current year's interest. If you have not been claiming the interest annually then the difference between what you paid for it and the redemption value is taxed as ordinary income. There are a matter of things someone has to know for the taxes they will pay on a savings bond. One, what is your tax bracket? If you dont know what your tax bracket is, it depends on your income for the year. The average tax bracket is 28%. Also it depends on how much interest you accured on the bond. When was it purchased? You can check what the bond is worth on |
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