I'm cashing in a savings bond, can I pay federal income tax on it when I cash it in?

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I want to pay 15% on the bond when I cash it in so I dont have to do it at the end of the year. Does anyone know if I can do that? thanks Helen

2007-03-13 03:44:59 · 2 answers · asked by Helen B 1 in Business & Finance ➔ Personal Finance

No. You have to wait until they send you the 1099. Unless you file during the year & pay quarterly.

2007-03-13 03:49:08 · answer #1 · answered by ricks 5 · 0⤊ 0⤋

no wait till end of tax year and file a 1099INT.

2007-03-13 10:53:21 · answer #2 · answered by kelly 3 · 0⤊ 0⤋