| Capital gains and savings bonds |
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bhowe
New Poster
Cash: $ 0.50
Posts: 2
Joined: 19 Jul 2005
Location: Chicopee, MA
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| Capital gains and savings bonds |
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Does anyone know, if a gain in interest income ( via savings bonds) can be balanced ( on your taxes) by a loss on stocks ( capital gains)? I have bonds that have collected quit a bit of interest. I am looking for a way to protect the interest from taxes?
Thanks
Bill
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Tue Aug 09, 2005 1:13 pm |
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KathMorgan
Member
Cash: $ 3.84
Posts: 19
Joined: 26 Apr 2005
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The short answer is, no. Interest on savings bonds is taxed at your regular rate and reported on Sch B (or directly on 1040 if under $1500). The only way I know off hand to "protect" it from taxes is to use them (series EE) for education expenses.
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Tue Aug 09, 2005 11:57 pm |
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