Anonymous
Post 02/16/2022 08:56     Subject: How to buy I - Bonds
Anonymous wrote:Follow up ibond account question.

How do you set up an account for a child? It’s not $10k, but a couple hundred that’s sitting in a bank account. This is their money- $50 here or there over the years. We have separate MD 529 accounts.

I’ve looked at several posts, but i can’t find the correct answer. When you open up an account attached to the adult account, it asks for sole owner, primary owner, or beneficiary account. I selected beneficiary for one child, but then it said POD which I assume is payable on death. I don’t want that. I just want the couple hundred plus better interest to be available in five years.


Someone else asked this question. I think the answer is once you open up the linked account the child should be listed as the sole or primary owner because its their account. If you want a beneficiary on the account that should be a different person (child?).
Anonymous
Post 02/16/2022 08:41     Subject: How to buy I - Bonds
Follow up ibond account question.

How do you set up an account for a child? It’s not $10k, but a couple hundred that’s sitting in a bank account. This is their money- $50 here or there over the years. We have separate MD 529 accounts.

I’ve looked at several posts, but i can’t find the correct answer. When you open up an account attached to the adult account, it asks for sole owner, primary owner, or beneficiary account. I selected beneficiary for one child, but then it said POD which I assume is payable on death. I don’t want that. I just want the couple hundred plus better interest to be available in five years.
Anonymous
Post 02/15/2022 16:52     Subject: How to buy I - Bonds
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Reminder that the interest is taxed federally, but not in most states.


I thought no states tax interest from i bond


I just looked into this for Maryland (don’t know about other states). The interest isn’t subject to Maryland state taxes, but only for households below a certain income level. My household income is about 250k, and we are FAR above that threshold.


Doesn't matter though.. Interest can be deferred for upto 30 years and taxes paid on withdrawal by you or successor.
Anonymous
Post 02/15/2022 13:59     Subject: How to buy I - Bonds
Anonymous wrote:
Anonymous wrote:Wondering if anyone had this issue: Created an account to buy I bonds at the Treasury Direct website… then got a notice saying there was an issue with the information from my bank (I tried to purchase from our joint checking account) and my transaction was automatically canceled.

I wound up giving up — called the TreasDir help number and it rang forever with no pickup. Also tried the online help desk but they didn’t answer my question.

All of you who bought I bonds on the website, did you find it from a joint account or a bank account with only one owner (I’m wondering if that was what was tripping up my purchase)?


+1
Purchased yesterday from a joint account. No issues encountered. Give it another try.


Just following up to say a big “thanks” to the multiple posters who suggested I try again to buy I bonds online. For whatever reason, it worked this time and we were able to get the max $10K at the current rate.
Anonymous
Post 02/09/2022 09:15     Subject: How to buy I - Bonds
Anonymous wrote:Hey guys, I have i bond 101 type question. If your balance is 20000 and purchased another 10k at 7%, does that 7% apply to my total amount (30k) or just 10k?


Total amount. Each deposit gets 6 months of the going interest rate. So the first ones you bought will change rates before the second ones. But in either case, you get full 6 months, then it switches to new rate.
Anonymous
Post 02/09/2022 09:15     Subject: How to buy I - Bonds
Anonymous wrote:Hey guys, I have i bond 101 type question. If your balance is 20000 and purchased another 10k at 7%, does that 7% apply to my total amount (30k) or just 10k?


Each bond you purchase will get the 7% interest rate for six months but the six months they get it for will vary for each bond according to the purchase date. The interest rate resets every six months for each bond but since you purchase them at different times they reset at different times.
Anonymous
Post 02/09/2022 09:03     Subject: How to buy I - Bonds
Hey guys, I have i bond 101 type question. If your balance is 20000 and purchased another 10k at 7%, does that 7% apply to my total amount (30k) or just 10k?
Anonymous
Post 02/09/2022 07:44     Subject: How to buy I - Bonds
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Reminder that the interest is taxed federally, but not in most states.


I thought no states tax interest from i bond


I just looked into this for Maryland (don’t know about other states). The interest isn’t subject to Maryland state taxes, but only for households below a certain income level. My household income is about 250k, and we are FAR above that threshold.


Savings bonds are exempt from taxation by any State or political subdivision of a State, except for estate or inheritance taxes.
https://www.treasurydirect.gov/indiv/products/prod_ibonds_glance.htm
Anonymous
Post 02/09/2022 07:34     Subject: How to buy I - Bonds
Anonymous wrote:
Anonymous wrote:Reminder that the interest is taxed federally, but not in most states.


I thought no states tax interest from i bond


I just looked into this for Maryland (don’t know about other states). The interest isn’t subject to Maryland state taxes, but only for households below a certain income level. My household income is about 250k, and we are FAR above that threshold.
Anonymous
Post 02/08/2022 15:49     Subject: How to buy I - Bonds
Anonymous wrote:Wondering if anyone had this issue: Created an account to buy I bonds at the Treasury Direct website… then got a notice saying there was an issue with the information from my bank (I tried to purchase from our joint checking account) and my transaction was automatically canceled.

I wound up giving up — called the TreasDir help number and it rang forever with no pickup. Also tried the online help desk but they didn’t answer my question.

All of you who bought I bonds on the website, did you find it from a joint account or a bank account with only one owner (I’m wondering if that was what was tripping up my purchase)?


+1
Purchased yesterday from a joint account. No issues encountered. Give it another try.
Anonymous
Post 02/08/2022 14:10     Subject: Re:How to buy I - Bonds
Anonymous wrote:So I bought some bonds (both EE and I) for my kids like 10 years ago. I have the paper certificates. I just went to TreasuryDirect to buy some more I Bonds. Although I have some bonds and I remember using Treasury Direct, there was no account for me so I created a new account for myself. I bought an I bond with some of the money in my emergency fund. Pretty straight forward. Now I want to buy one for each of my kids. I quickly got very lost on that website. I created two "linked minor accounts". But I'm not sure if these should be "gifts". I was trying to do that but it asking me to add a registrant. I wasn't sure if they wanted me to add one of my kids. It was asking for primary, secondary, sole owner. Confusing. I have no idea how to buy an I bond for my kid. If anyone does this, can you share some details? Thanks


By memory I think if you have a linked minor account you don’t need to buy them as a gift— a gift would be if you bought them in your account but asked them to be delivered to the linked account as a gift.

Each bond needs to have a registration— simplest is just the name of the account owner (or recipient for a gift) but you can also add a secondary owner. Have you set up the linked account to have a default registration of your child’s name?
Anonymous
Post 02/08/2022 14:09     Subject: How to buy I - Bonds
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Wondering if anyone had this issue: Created an account to buy I bonds at the Treasury Direct website… then got a notice saying there was an issue with the information from my bank (I tried to purchase from our joint checking account) and my transaction was automatically canceled.

I wound up giving up — called the TreasDir help number and it rang forever with no pickup. Also tried the online help desk but they didn’t answer my question.

All of you who bought I bonds on the website, did you find it from a joint account or a bank account with only one owner (I’m wondering if that was what was tripping up my purchase)?


no, our bank accounts are all joined. didn't have any problem buying i bond. weird.


Ok, thanks. It was so weird and frustrating. If there was a way to walk to a brick & mortar Treasury building and throw my $10K at them, I’d just prefer to do that! Ah well.


try again maybe? do you have another bank you can link to?
Anonymous
Post 02/08/2022 14:07     Subject: How to buy I - Bonds
Anonymous wrote:
Anonymous wrote:Wondering if anyone had this issue: Created an account to buy I bonds at the Treasury Direct website… then got a notice saying there was an issue with the information from my bank (I tried to purchase from our joint checking account) and my transaction was automatically canceled.

I wound up giving up — called the TreasDir help number and it rang forever with no pickup. Also tried the online help desk but they didn’t answer my question.

All of you who bought I bonds on the website, did you find it from a joint account or a bank account with only one owner (I’m wondering if that was what was tripping up my purchase)?


no, our bank accounts are all joined. didn't have any problem buying i bond. weird.


Ok, thanks. It was so weird and frustrating. If there was a way to walk to a brick & mortar Treasury building and throw my $10K at them, I’d just prefer to do that! Ah well.
Anonymous
Post 02/08/2022 13:52     Subject: How to buy I - Bonds
Anonymous wrote:Wondering if anyone had this issue: Created an account to buy I bonds at the Treasury Direct website… then got a notice saying there was an issue with the information from my bank (I tried to purchase from our joint checking account) and my transaction was automatically canceled.

I wound up giving up — called the TreasDir help number and it rang forever with no pickup. Also tried the online help desk but they didn’t answer my question.

All of you who bought I bonds on the website, did you find it from a joint account or a bank account with only one owner (I’m wondering if that was what was tripping up my purchase)?


no, our bank accounts are all joined. didn't have any problem buying i bond. weird.
Anonymous
Post 02/08/2022 13:47     Subject: How to buy I - Bonds
Wondering if anyone had this issue: Created an account to buy I bonds at the Treasury Direct website… then got a notice saying there was an issue with the information from my bank (I tried to purchase from our joint checking account) and my transaction was automatically canceled.

I wound up giving up — called the TreasDir help number and it rang forever with no pickup. Also tried the online help desk but they didn’t answer my question.

All of you who bought I bonds on the website, did you find it from a joint account or a bank account with only one owner (I’m wondering if that was what was tripping up my purchase)?