I have seen quite a few mentions of purchasing Series I Savings Bonds in the comments here lately and I figure that as people start to make financial plans for 2022 I should point out (like the title says) that you can purchase up to $5,000 in paper Series I Savings Bonds with your tax return. This is done using IRS form 8888 when you file your taxes. This $5,000 does not count towards your $10,000 annual purchase limit for Series I Savings Bonds in TreasuryDirect.
There are some caveats to the program, the biggest being that you can only make a purchase with your tax refund (if you are entitled to one). Also, you do not get to choose the bond denominations that you will receive, and they have to be ordered in $50 increments.
If you do not want to keep them in paper form, it is very easy to convert the paper bonds into your TreasuryDirect account after you have received the paper bonds.
More information about this option can be found here. Information about I Bonds rates can be found here.
Disclaimer: This content is for informational purposes only, you should not construe this information as legal, tax, investment, financial, or other advice.
Submitted December 11, 2021 at 10:06AM by big_fat_sellout https://ift.tt/3pLU3Zq
