Savings bonds after graduation

mamom
Tue, 12 Jun 2012 17:54:36 +0000

We cashed in all of S’s savings bonds last fall. BIg hassle. We had to open a treasury acct because you are only allowed to cash in something like $1000 at once at a bank. Once we opened the acct then we had to transfer the bonds to the acct and request a withdrawal. It took some time to finally get the money. Luckely we did not need the funds for anything, we just wanted to put it somewhere we had more control over. We did not qualify for the tax deduction so it made no sense to keep the money tied up in bonds.