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Can I buy iBonds electronically with a tax refund?
Old 01-29-2013, 02:42 PM   #1
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Can I buy iBonds electronically with a tax refund?

Unfortunately I am going to get a tax refund for 2012. However, it appears I can buy more than the otherwise $10K iBond limit with my tax refund, so maybe I've out dumbed myself (again).

I'd rather have the iBonds added to my Treasury Direct account, and I've read they discontinued paper bonds in 2010-11. But everything I read at the TD and TurboTax sites still seems to say they will send paper bonds, I'd prefer electronic.

So I'm confused. Anyone know for sure?
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Old 01-29-2013, 02:58 PM   #2
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as I understand it, the ones purchased with tax refunds are paper, everything else is electronic.

Individual - Buying I Bonds

And the paper ones can be converted to electronic thru treasurydirect.
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Old 01-29-2013, 02:59 PM   #3
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All I have ever read is the $5k limit on tax refunds and they have to be given in the paper variety only, which you could then convert.
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Old 01-29-2013, 03:03 PM   #4
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At least I can convert them from paper to electronic...though I wonder why the extra step(s). No reply necessary...
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Old 01-31-2013, 01:48 PM   #5
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Yes, you get paper bonds. I was in the same situation last yr. I got the max $5k bonds thru tax return using Turbotax. It was kind of a headache to get Turbotax to allow me to pay the extra needed on my return to get to $5k. I had to fill out an extension, even though I filed on time and had to move the numbers around to force the payment. The I bonds were at the new, lower rate (May 2012) which was disappointing and they sent me as many small denomination bonds as possible in multiple mailings too.
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