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EE US Savings Bond Interest 1992-1994

 
 
jeff_wisnia
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      02-17-2011, 10:51 PM
I need to find out the dollar value of interest earned per year on a
$5,000 US EE Savings bond purchased in 09/1992. for the years 1992, 1993
and 1994.

The Govenment's Treasury Direct website bond calculator only has
historical values from 1995 to date.

Thanks guys.

Jeff


--
Jeffry Wisnia
(W1BSV + Brass Rat '57 EE)
The speed of light is 1.8*10e12 furlongs per fortnight.

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      02-19-2011, 04:54 PM
On Feb 17, 2:51*pm, jeff_wisnia <(E-Mail Removed)>
wrote:

> I need to find out the dollar value of interest earned per year on a
> $5,000 US EE Savings bond purchased in 09/1992. for the years 1992, 1993
> and 1994.
>
> The Govenment's Treasury Direct website bond calculator only has
> historical values from 1995 to date.


<Quote source="http://www.treasurydirect.gov/indiv/research/indepth/
ebonds/res_e_bonds_eeratesandterms_eebondsissuedbefore051 995.htm">

Bonds Issued November 1982 through February 1993

* Began earning interest on a fixed graduated scale that started
at 4.16% at six months and increased during the first five years to
reach a guaranteed minimum rate at five years
* Bonds with issue dates of November 1986 through February 1993
had a guaranteed minimum rate of 6% per year, compounded semiannually,
for their 12-year original maturity period
* Bonds with issue dates of November 1982 through October 1986 had
a guaranteed minimum rate of 7.5% per year, compounded semiannually,
for their 10-year original maturity period
* Once held for five years, they became eligible for market-based
rates

</Quote>

The whole thing sounds contradictory for me. The first bullet point
says the interest increases from 4.16% to 5%. The second bullet point
suggests you have 6%, maybe more, for 12 years, then you can use the
tables after 1995 to figure out the market rates for each year. The
4th bullet point says the market rate kicks in after 5 years, not 12.

When you redeem the bond, won't Treasury direct calculate the interest
for you? Say they give you $7200 -- that means your interest was
$2200, and the details shouldn't concern you. Of course, you can
subtract your qualified higher education expenses if this is a
qualified EE bond.

>From http://www.treasurydirect.gov/indiv/...axconsider.htm

it looks like you can report the interest each year or in the year of
redemption, maturity, sale, or reissue. But either way, you should
get a 1099-INT that tells you what to do.

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Mark Freeland
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      02-23-2011, 02:22 AM
On 2/17/2011 5:51 PM, jeff_wisnia wrote:
> I need to find out the dollar value of interest earned per year on a
> $5,000 US EE Savings bond purchased in 09/1992. for the years 1992, 1993
> and 1994.
>
> The Govenment's Treasury Direct website bond calculator only has
> historical values from 1995 to date.


The website has historical redemption value files, going back to May
1992 that should give you most of what you need.
http://www.treasurydirect.gov/indiv/...bondvalues.htm

They're designed for (Cobol) programmers, but I think I can get you
started. EE bonds were not redeemable for six months, so the first
month for which you'll have data is March 1993. Here's the line in the
data file containing that month:
N1993031992001314001309001304001299001294001289001 285001280001276NO
PAYNO PAYNO PAY

Look for the rows beginning N<YYYY><MM>1992, where <YYYY> is the year of
redemption, and <MM> is the month. So this row is for redemption in
March (03) of 1993. The 1992 represents your issue year.

The value of EE bonds issued in January (1992) is represented by the
next six digits: 001314 (meaning $0013.14). That's how much a $25 EE
bond, issued Jan 1992 (at $12.50) would have been worth in March 1993.
The next six digits represents the value of a $25 bond issued in Feb
1992 would have been worth. The value of your (Sept) bond in March 1993
was $12.76.

As you can see from looking at this row, bonds one month older (issued
in Aug) were worth $12.80, 4c more. Those two months older (issued in
July) were worth $12.85, etc. So each of the first six months was worth
about 4-5c of interest, totaling 26c over six months. That should give
a pretty good approximation for the first six months interest. You'll
have exact numbers for each month thereafter.

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paultry
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      02-23-2011, 07:27 AM
On 2/17/2011 16:51, jeff_wisnia wrote:
> I need to find out the dollar value of interest earned per
> year on a $5,000 US EE Savings bond purchased in 09/1992.
> for the years 1992, 1993 and 1994.
>
> The Govenment's Treasury Direct website bond calculator only
> has historical values from 1995 to date.
>
> Thanks guys.
>
> Jeff
>
>


It looks like this may give you what you want:

http://download.cnet.com/EEBond/3000...ml?tag=mncol;4

It will generate value and interest amounts based on
purchase and redemption dates input by you. Redemption
dates go back to 1990. Free trial version good for 6 months.

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<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
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<< to this newsgroup as well as our anti-spamming policy >>
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jeff_wisnia
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      02-23-2011, 10:12 PM
paultry wrote:
> On 2/17/2011 16:51, jeff_wisnia wrote:
>
>> I need to find out the dollar value of interest earned per
>> year on a $5,000 US EE Savings bond purchased in 09/1992.
>> for the years 1992, 1993 and 1994.
>>
>> The Govenment's Treasury Direct website bond calculator only
>> has historical values from 1995 to date.
>>
>> Thanks guys.
>>
>> Jeff
>>
>>

>
> It looks like this may give you what you want:
>
> http://download.cnet.com/EEBond/3000...ml?tag=mncol;4
>
> It will generate value and interest amounts based on purchase and
> redemption dates input by you. Redemption dates go back to 1990. Free
> trial version good for 6 months.
>


Thanks to all who responded. I'm sure I've got enough to get what I need
now.

FYI I bought my young son a $10K EE bond in September 1992 and a couple
of years later realized he should have been declaring the interest
annually, since his overall income was low enough to put him in a no tax
status.

He started declaring that bond's interest on his 1995 return and I've
kept track of the interest he declared every year after that, and have
kept copies of his returns for all those years too.

He's still young enough so his income and tax rates are pretty low, so I
figured it might be a good idea to find out the amount of interest he
didn't declare those first couple of years and declare it his 2010
return along with that bond's 2010 interest. It's probably less that
$300, but every penny counts.

Jeff

--
Jeffry Wisnia
(W1BSV + Brass Rat '57 EE)
The speed of light is 1.8*10e12 furlongs per fortnight.

--
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<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
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      02-24-2011, 02:48 AM
On Feb 23, 2:12*pm, jeff_wisnia <(E-Mail Removed)>
wrote:

> Thanks to all who responded. I'm sure I've got enough to get what I need
> now.
>
> FYI I bought my young son a $10K EE bond in September 1992 and a couple
> of years later realized he should have been declaring the interest
> annually, since his overall income was low enough to put him in a no tax
> status.
>
> He started declaring that bond's interest on his 1995 return and I've
> kept track of the interest he declared every year after that, and have
> kept copies of his returns for all those years too.
>
> He's still young enough so his income and tax rates are pretty low, so I
> figured it might be a good idea to find out the amount of interest he
> didn't declare those first couple of years and declare it his 2010
> return along with that bond's 2010 interest. It's probably less that
> $300, but every penny counts.


If he made the election to report the interest as it is received, then
he should file a 1992 tax return. If he didn't file a return, then he
can file a 1992 return now -- the statute of limitations is still open
if you didn't file a tax return. Then with the standard deduction
maybe he owes nothing. If he did file a 1992 return then he can amend
it. I'm sure the IRS will accept an amended return if you owe money,
by normally they accept amended returns for only up to 3 years.

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Seth
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      02-24-2011, 07:16 PM
In article <(E-Mail Removed)>,
(E-Mail Removed) <(E-Mail Removed)> wrote:

> I'm sure the IRS will accept an amended return if you owe money,
>by normally they accept amended returns for only up to 3 years.


Where does that come from? They'll only provide refunds for amended
returns up to 3 years later, but I don't know of any rule preventing
amending returns older than that.

Seth

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