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Fling taxes on savings bond?
I cashed in a savings bond for $50 yesterday and was wondering if I'll have to file taxes on it and if I do have to what am I supposed to do? I'm 16.
3 Answers
- StephenWeinsteinLv 71 decade agoFavorite Answer
If that was your only income for the year, then you do not have to file taxes at all.
If either you have enough other income that you must file taxes on something or you voluntarily decide to file taxes on anything, then you must include this as well.
- JudyLv 71 decade ago
The interest on it is taxable, but if that's your only income for the year, you're way under the limit to have to file.
- cainvest1Lv 71 decade ago
You will be well beneath the limit to have to pay taxes if this was your only income.
