Saturday, May 4, 2024
Specific Property Gifts

4.11.1 Basic Quiz -- Types of Savings Bonds
Series EE savings bonds can earn interest indefinitely.
     True      False
The increase in value of Series EE savings bonds represents unrealized capital gain.
     True      False
3. The "original maturity" of a Series EE savings bond is 25 years from the issue date of the savings bond.
     True      False
A disadvantage of Series EE savings bonds is that a taxpayer must report the interest income each year.
     True      False
A taxpayer may elect to realize the interest income immediately on Series EE savings bonds.
     True      False
Series EE savings bonds are redeemed through the Internal Revenue Service.
     True      False
The term "final maturity" refers to the death of a taxpayer.
     True      False
An advantage of Series EE savings bonds is the ability to redeem the bonds without having to report the accumulated interest income.
     True      False
Even though taxpayers may "rollover" their Series EE bonds into Series HH bonds, it is still a taxable event.
     True      False
Similar to Series EE savings bonds, Series I savings bonds accumulate interest income tax-free.
     True      False



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