Paper Savings Bonds
If you cash a paper savings bond at a local bank, that bank is responsible for giving you a 1099.
If you cash a paper savings bond by mailing it to Treasury Retail Securities Services, we mail you a 1099 by January 31 of the following year. (You can call us for a duplicate statement, if needed, beginning February 15.)
TreasuryDirect (electronic securities)
NOTE: 1099s for tax year 2023 are available in your account now. If you have linked accounts (such as a minor account or where you converted paper bonds), each can have its own 1099.
We put a 1099 into your TreasuryDirect account if:
- You cash a savings bond in TreasuryDirect. (We don’t provide a 1099 if you only buy or hold a savings bond.)
- You hold a marketable security in TreasuryDirect and the security earns interest.
We place the 1099s by January 31 of the following year. When your 1099 is ready, we send an e-mail to your personal e-mail account and put a message into your InBox within TreasuryDirect.
To see the 1099:
- Log in to your TreasuryDirect account
- Click the “Manage Direct” tab
- Under “Manage My Taxes,” click “Year XXXX”
- Near the top of the “Taxable Transaction(s) Summary” page, click “View your 1099 for tax year XXXX”
Video on finding a 1099 in TreasuryDirect
FAQs
1099 Tax Statements for Paper Savings Bonds and TreasuryDirect
- Log in to your TreasuryDirect account.
- Click the “Manage Direct” tab.
- Under “Manage My Taxes,” click “Year XXXX”
- Near the top of the “Taxable Transaction(s) Summary” page, click “View your 1099 for tax year XXXX”
If a financial institution pays the bond, you get a 1099-INT from that financial institution either soon after you cash your bond or by January 31 of the following year. If your bonds are in your TreasuryDirect account, your 1099-INT is available in your account by January 31 of the following year.
How is Treasury bill interest reported on 1099? ›
The interest income received in a year is recorded on Form 1099-INT. Investors can opt to have up to 50% of their Treasury bills' interest earnings automatically withheld. If you live in a state that charges a high income tax, T-bills might be more advantageous than other short-term fixed instruments, like CDs.
Do you get statements from TreasuryDirect? ›
The Account Statements will be available on the 1st business day of the month no later than 1pm Eastern Time.
How do I find my 1099 form online? ›
Signing in to your personal my Social Security account and selecting the “Replace Your Tax Form SSA-1099/SSA-1042S” link. Go to the “Choose a year” dropdown menu. Choose the desired year and select the “Download” link. The most recent tax year's SSA-1099/SSA-1042S will be available beginning every February 1.
Can I get my 1099-INT form online? ›
If you're enrolled in Online Banking and you meet the IRS guidelines, you can find your 1099-INT form by signing in to Online Banking, selecting your deposit account and then selecting the Statements & Documents tab.
Are TreasuryDirect i bonds taxable? ›
The interest earned by purchasing and holding savings bonds is subject to federal tax at the time the bonds are redeemed. However, interest earned on savings bonds is not taxable at the state or local level.
How do I avoid taxes on Ibonds? ›
You can skip paying taxes on interest earned with Series EE and Series I savings bonds if you're using the money to pay for qualified higher education costs. That includes expenses you pay for yourself, your spouse or a qualified dependent. Only certain qualified higher education costs are covered, including: Tuition.
How do I enter Treasury bond interest in TurboTax? ›
Interest income for Treasury Bonds is usually reported in Box 3 of your Form 1099-INT. After the end of the tax year, your financial institution should send you a Form 1099-INT reporting all the taxable and tax-exempt interest you received during the year.
Do I need to report Treasury bond interest? ›
Interest income from Treasury bills, notes and bonds - This interest is subject to federal income tax but is exempt from all state and local income taxes.
We can withhold up to 50 percent of the interest you earn. To withhold taxes: TreasuryDirect: In your TreasuryDirect account, tell us the percent to withhold. Legacy Treasury Direct: Call or write to us to tell us the percent to withhold.
How to report Treasury bills on tax return? ›
1) For the i-bond you cashed, you should create a 1099-INT form the US Treasury, and put the interest in box 3. 2) For the Treasury Bills, you "probably" hold those at a brokerage. IF so, you need to get the 1099-INT form that brokerage and either import it, or enter it manually.
Will I receive a 1099 from TreasuryDirect? ›
If you invest in TreasuryDirect, your 1099 will be available electronically and you can print the form from your account. 1099 forms are available by January 31 of each tax year.
Will I get a 1099 for I bond interest? ›
A 1099-INT issued when you cash the I bond will show all interest earned from the date of issue, including interest earned before it was reissued. IRS Publication 550 has instructions for paying tax only on the interest earned after the bond was reissued.
What happens to a TreasuryDirect account at death? ›
If the beneficiary has a TreasuryDirect account, the security will be transferred to that account. If the beneficiary does not have an account, he or she may establish an account. Alternatively, a beneficiary named on a savings bond may request redemption.
Where can I find my 1099 SA form online? ›
To retrieve your 1099-SA and 5498-SA in your online account, complete the following steps:
- Log in to your online account.
- Navigate to the Message Center tab and then click "View Statements."
- Click on the link for the HSA tax statement you want to view.
If the investor chooses to amortize the bond premium, it is done by reporting the amortized premium on the tax return for the first year this election applies. This amount is shown as a negative amount on Schedule B of the tax return and is netted against any other interest income realized during the year.
Do you have to pay taxes on treasury bonds? ›
Bonds typically pay a fixed amount of interest (usually paid twice per year). Interest from corporate bonds and U.S. Treasury bonds interest is typically taxable at the federal level. U.S. Treasuries are exempt from state and local income taxes.
How to enter Treasury bill interest in turbotax? ›
1) For the i-bond you cashed, you should create a 1099-INT form the US Treasury, and put the interest in box 3. 2) For the Treasury Bills, you "probably" hold those at a brokerage. IF so, you need to get the 1099-INT form that brokerage and either import it, or enter it manually.
