I-Bond Interest

[Safe Harbour]

All,

I have been watching my I-Bond purchase from last April (2023) and looking for some interest payment. I have read it's paid twice a year and will show as an addition to your I-Bond principle. But on TreasuryDirect it shows my original purchase of $10,000 is still $10,000. I was thinking about this because of Tax season. I assume this is Taxable income but I've never gotten a statement from them and I don't see any intrest payments on TreasureDirect. But maybe this because I don't know how to use it? It seems to be a clugge of a website. If you go down some menu choices you can't go back as it's not an option and if you hit the back browser button you're logged off. I've had to logon three times just to look around.

Thanks
Gary

 

[audreyh1]

You didn’t drill down far enough.

I think you select the IBonds and go down another level or two to see “Current Holdings Summary” or something like that.

Disallowing back button on certain screens is a fairly common security measure on some financial web sites. They usually provide a back button on the webpage instead.

 

[Gumby]

Yes, look at "current holdings". If it is in the gift box, look there.

By the way, you don't need to pay tax on the interest every year (although you may if you wish) only when the bond is redeemed. If you do choose to pay tax yearly, it's up to you to keep track of the interest and the tax you pay. Treasury Direct doesn't do that for you. In fact, they won't even give you a 1099 INT until redemption.

 

[Safe Harbour]

You didn’t drill down far enough.

I think you select the IBonds and go down another level or two to see “Current Holdings Summary” or something like that.

Disallowing back button on certain screens is a fairly common security measure on some financial web sites. They usually provide a back button on the webpage instead.

I finally got it. Thanks for your note.

 

[Safe Harbour]

Yes, look at "current holdings". If it is in the gift box, look there.

By the way, you don't need to pay tax on the interest every year (although you may if you wish) only when the bond is redeemed. If you do choose to pay tax yearly, it's up to you to keep track of the interest and the tax you pay. Treasury Direct doesn't do that for you. In fact, they won't even give you a 1099 INT until redemption.

Thanks that's good to know.

 

[erkevin]

And three months of interest will be missing as the Fed withholds that in case of early withdrawal (less than 5 years).

 

[Al18]

As stated above, if you drill down to the details of iBonds, you should see interest.

When you first purchase the iBond, you won’t see any interest until after the 4th month you purchased the iBond. After that, you’ll see interest is added the 1st of every month.

 

[Safe Harbour]

And three months of interest will be missing as the Fed withholds that in case of early withdrawal (less than 5 years).

Thanks. I read that.