Taylor, MI asked in Tax Law and Probate for Michigan

Q: I inherited over $170K in U.S.Savings bonds.Which have been redeemed Do I have to pay tax on all the interest as income?

Or do these fall under the step up basis? Like real estate.

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1 Lawyer Answer
Trent Harris
Trent Harris
  • Estate Planning Lawyer
  • Jackson, MI
  • Licensed in Michigan

A: Good question. Whether you must pay income tax on your inheritance of US Savings Bonds depends on your individual tax situation, and can't be answered in this forum or given the limited information here. You should consult a CPA or tax attorney for more information. You can also find some general information about your question here: https://smartasset.com/taxes/do-i-have-to-pay-tax-on-inherited-savings-bonds

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