Savings bonds redeemed at treasury direct. No 1099-int

[lindalou]

Hi. I'm sure that I'm going to get a lot of this terminology wrong, but here goes. My husband and I had several old savings bonds mature this year. They were held at Treasury Direct. After they matured, we would get an email saying that the proceeds had been used to purchase a 0% C of I and then I would redeem that to our checking account.


We then get emails that say that our 1099s are available, but when I log in, it says No Taxable Transactions for 2023 under the manage my taxes heading.


Am I looking in the wrong place? This is where the video linked in the email said to get the form.



Any help would be appreciated! Thanks

Linda

 

[lawman]

Did they mature in 2023 or 2024?

 

[N02L84ER]

lawman's question is appropriate. You said they mature this year. This year is 2024. If that is correct, the 1099s will be issued next year.

 

[mrfeh]

lawman's question is appropriate. You said they mature this year. This year is 2024. If that is correct, the 1099s will be issued next year.

Actually, the 1099s will show up now, but under the 2024 heading.

At least I have them for I Bonds I sold last month. I don't know if matured bonds are handled differently.

 

[lindalou]

Sorry I wasn't clear. They matured in 2023.

 

[KingMota]

I think my 1099 from cashing iBond's was under the ManageDirect tab. Interestingly, it was just a web page and not a PDF like everyone else produces. Their site is down today, so I cannot verify the info for you.

 

[braumeister]

I think my 1099 from cashing iBond's was under the ManageDirect tab. Interestingly, it was just a web page and not a PDF like everyone else produces. Their site is down today, so I cannot verify the info for you.

That's right.

If your bonds are in your TreasuryDirect account, your 1099-INT is available in your account by January 31 of the following year.

• Go to your TreasuryDirect account.
• Select the ManageDirect tab.
• Under "Manage My Taxes", choose the relevant year.
• Near the top of your "Taxable Transaction Summary", choose the link to view your 1099.

Video

 

[lindalou]

Here's a screen shot that I took yesterday:

 

[mrfeh]

Here's a screen shot that I took yesterday:
View attachment 48633

Maybe you're logged into the wrong account (yours vs husbands)?

 

[lindalou]

Both of our accounts say the same thing. We also both redeemed bonds in 2023.


Thanks, everyone, for making suggestions! I'm still trying to figure this out.

 

[RunningBum]

Do you have enough information that you would be able to create a 1099-INT for each redeemed bond on your own? I'm guessing it would be better to try to file the taxes as they should be, rather than file without 1099-INTs since you didn't get them.

Probably best to call them first.

 

[CRLLS]

Being older savings bonds, is it possible that you had accidentally created 2 TD accounts and those bonds were held in the older account?

 

[Gumby]

Do you have enough information that you would be able to create a 1099-INT for each redeemed bond on your own? I'm guessing it would be better to try to file the taxes as they should be, rather than file without 1099-INTs since you didn't get them.

Probably best to call them first.

As far as I know, you don't file Form 1099-INT with your tax return unless it shows tax withholding. If you have the proper information regarding the amount of interest (which goes in Box 3), then you should be able to file.

PS - this website might help you calculate the amount of interest at any time and the redemption value (which will be minus the last 3 months interest if you have held for less than 5 years) . https://treasuryviewer.com/calculator.html

 

[RunningBum]

As far as I know, you don't file Form 1099-INT with your tax return unless it shows tax withholding. If you have the proper information regarding the amount of interest (which goes in Box 3), then you should be able to file.

PS - this website might help you calculate the amount of interest at any time and the redemption value (which will be minus the last 3 months interest if you have held for less than 5 years) . https://treasuryviewer.com/calculator.html

Yes, I meant create one for themselves to be able to finish their taxes.

 

[joesxm3]

Could they have been in a linked conversion account?

 

[AmigaDude]

Could they have been in a linked conversion account?

Probably so.

I suggest you click on Manage Direct, and then Access My Linked Accounts, to see if you have a conversion account.

 

[teej1985]

Actually, the 1099s will show up now, but under the 2024 heading.

At least I have them for I Bonds I sold last month. I don't know if matured bonds are handled differently.

Who does it show as the Payer on the 1099?

 

[lindalou]

joesxm3 solved it! The 1099-ints are in linked accounts. And thanks to AmigaDude for providing instructions for finding that.


I would have never figured this out and I suspect that we neglected to pay taxes on last years interest


Linda

 

[mrfeh]

Who does it show as the Payer on the 1099?

Department of the Treasury