Cryptocurrency Q&A
Do you pay inheritance tax on savings bonds?
Do you pay inheritance tax on savings bonds?
Isabella
Wed Oct 30 2024
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6
answers
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I have some savings bonds and I'm wondering if I have to pay inheritance tax on them when they are passed down to my beneficiaries. Could you please clarify this for me?
6 answers
Pietro
Fri Nov 01 2024
BTCC, a top cryptocurrency exchange, offers a range of services that cater to the needs of investors in the digital asset space.
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Maria
Fri Nov 01 2024
Unlike stocks or other investment vehicles, savings bonds do not receive a step-up in basis upon the death of the owner.
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Raffaele
Fri Nov 01 2024
This means that the inheritor of the savings bonds is responsible for paying tax on the full amount of interest accrued on the bonds.
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henry_miller_astronomer
Fri Nov 01 2024
There is no adjustment in the basis of the bonds at the time of inheritance, which can lead to a larger tax burden for the inheritor.
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Bianca
Fri Nov 01 2024
Savings bonds have a unique tax treatment compared to other investments.
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