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Old 07-06-2015, 12:08 PM   #21
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Since savings bonds do not receive a cost basis step-up upon the death of their holder, they provide a little-known unique way to create on-demand income in respect of a decedent. The executor of a decedent's estate can decide to redeem a decedent's savings bonds, an act that ordinarily produces taxable interest income, however against that income many expenses can be deducted, effectively rendering the bond income tax free.
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