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Old 02-25-2008, 11:41 AM   #21
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Originally Posted by JohnEyles View Post
So is it just me, or do these guys figure they're above the law and
don't have to send out a 1099 ? I sure haven't gotten one.

At the website, you can go to "Manage Direct" and then down into
"taxes" and it kinda gives you the info, but without really dividing
it into "line" amounts. I guess it's pretty obviously "Treasury Interest".

I'm wondering if they want you to list each bill/bond/etc separately
on your taxes ? It's kinda presented like that.

Of course, I've always grouped mutual funds dividends from one
mutual fund company together as one 1099 in the past (before
I realized you only do that for brokerage accounts) and the IRS
never seemed to mind.
I was talking 3-month and 6-month Treasury Bills.

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Old 02-25-2008, 12:14 PM   #22
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Did you click on "View your 1099 for tax year 2007"?

It lists all your transactions and gives you a bottom line figure.

I cashed some I-bonds and got a 1099 for that (you have to print it yourself) I had some t-bills and got a 1099 for that and I had a separate account inside my main account and I got a 1099 for that.

I admit it is somewhat confusing, you would think they could total them all to one 1099.

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Old 02-25-2008, 01:40 PM   #23
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I tried logging into my account and found out that it was closed by the US Treasury because it was inactive for 2 years. I thought 2 years was an unreasonably short period of time to close an account, especially with no kind of warning by email or regular mail.

I called and asked them how I would be expected to download a 1099 form from 3 years ago if were to get audited by the IRS and they didn't know.

I had no bonds or other investments sitting in my Treasury Direct account, but it makes me wonder how much money in bonds the government will keep when people "forget" they have an account or die with no paper trail for the beneficiaries.
No man is free who is not master of himself. --- Epictetus
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Old 02-25-2008, 04:11 PM   #24
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I've only had experience with I-bonds. I only have a 1099 in the years I cash some in, and when I went on line, I found the 1099 no problem. I can't remember if they actually sent one out as this was a couple of years ago.

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