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    #16
    Originally posted by keepsmiling View Post
    I'm still waiting to see what happens when someone actually has to turn them over. As in, who pays the taxes on the interest.... and if there is more than one name on the bond,how it is treated.
    Interest on jointly owned bonds is taxable to the co-owner who purchased the bonds. See page 8 of IRS publication 550: http://www.irs.gov/pub/irs-pdf/p550.pdf
    LadyInTheRed is in the black!
    Filed Chap 13 April 2010. Discharged May 2015.
    $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

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      #17
      Originally posted by LadyInTheRed View Post
      Interest on jointly owned bonds is taxable to the co-owner who purchased the bonds. See page 8 of IRS publication 550: http://www.irs.gov/pub/irs-pdf/p550.pdf
      These are the scenarios I am curious about.

      #1. Tt takes bonds. Debtor pays tax on interest?
      #2. Exemptions: does co-owner claim half value?
      #. Bond purchased as gift: who pays tax?

      Keep On Smilin'

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