An I-Bond Gifting Question

[cyber888]

I have a question for those of you who have done the IBond Gift Delivery to your spouse.

So, DW got a $10,000 I-bond for this year 2022, and in addition, I gifted her another $10,000 which I can deliver to her on Jan. 2023.

However, I'm now seeing that the IBond has gained Interest earnings, so it will be more than $10,000 in balance by Jan. 2023.
Let's say by Jan. 2023 - the Ibond Gift Balance is $10,500.
Does this mean I can only deliver $10,000 to my wife's balance for 2023 (with the $10,000 limit), and leave the $500 to transfer for the following year 2024?

Thanks.

 

[Gumby]

I have a question for those of you who have done the IBond Gift Delivery to your spouse.

So, DW got a $10,000 I-bond for this year 2022, and in addition, I gifted her another $10,000 which I can deliver to her on Jan. 2023.

However, I'm now seeing that the IBond has gained Interest earnings, so it will be more than $10,000 in balance by Jan. 2023.
Let's say by Jan. 2023 - the Ibond Gift Balance is $10,500.
Does this mean I can only deliver $10,000 to my wife's balance for 2023 (with the $10,000 limit), and leave the $500 to transfer for the following year 2024?

Thanks.

It is the original principal amount that controls. That is the language used in all the regulations. Look on your TD account. It says gift amount = $10k, current value = $10k + accrued interest.

 

[cyber888]

It is the original principal amount that controls. That is the language used in all the regulations. Look on your TD account. It says gift amount = $10k, current value = $10k + accrued interest.

Ok thanks, so it will be based on principal. That's good to know.