I bought a I bond for $ 30.000 . I sold it for $40.000 in 2006 dose it all have to go on 2006 tax form?

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I bought a I bond for $ 30.000 . I sold it for $40.000 in 2006 dose it all have to go on 2006 tax form?

In USA

2007-01-30 12:16:04 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States

2 answers

You have to report the sale less the cost on your taxes.

So, you would report $10,000 as a gain on the sale of the bond. (40,000 sale - 30,000 cost to obtain bond)

2007-01-30 12:23:14 · answer #1 · answered by TaxGurl 6 · 0⤊ 0⤋

dose?

2007-01-30 20:23:19 · answer #2 · answered by moe h 4 · 0⤊ 1⤋