EE US Savings Bond Interest 1992-1994

Discussion in 'Tax' started by jeff_wisnia, Feb 17, 2011.

  1. jeff_wisnia

    jeff_wisnia Guest

    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.

    --
    << ------------------------------------------------------- >>
    << 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. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
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    jeff_wisnia, Feb 17, 2011
    #1
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  2. jeff_wisnia

    Guest

    On Feb 17, 2:51 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.


    <Quote source="http://www.treasurydirect.gov/indiv/research/indepth/
    ebonds/res_e_bonds_eeratesandterms_eebondsissuedbefore051995.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/research/indepth/ebonds/res_e_bonds_eetaxconsider.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.

    --
    << ------------------------------------------------------- >>
    << 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. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>
     
    , Feb 19, 2011
    #2
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  3. 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/tools/tools_savingsbondvalues.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:
    N1993031992001314001309001304001299001294001289001285001280001276NO
    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.

    --
    << ------------------------------------------------------- >>
    << 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. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>
     
    Mark Freeland, Feb 23, 2011
    #3
  4. jeff_wisnia

    paultry Guest

    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/3000-2057_4-10000815.html?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.

    --
    << ------------------------------------------------------- >>
    << 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. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>
     
    paultry, Feb 23, 2011
    #4
  5. jeff_wisnia

    jeff_wisnia Guest

    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/3000-2057_4-10000815.html?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.

    --
    << ------------------------------------------------------- >>
    << 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. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>
     
    jeff_wisnia, Feb 23, 2011
    #5
  6. jeff_wisnia

    Guest

    On Feb 23, 2:12 pm, jeff_wisnia <>
    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.

    --
    << ------------------------------------------------------- >>
    << 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. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>
     
    , Feb 24, 2011
    #6
  7. jeff_wisnia

    Seth Guest

    In article <>,
    <> 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

    --
    << ------------------------------------------------------- >>
    << 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. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>
     
    Seth, Feb 24, 2011
    #7
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