“ Apparently the bank incorrectly reported the interest to the irs under her ssn and not mine. So where do I begin to unwind this mess....?”---> Paper Series EE Savings Bonds are often used as gifts. A hidden reason for their popularity is that Series EE bonds are purchased at half of face value. When your mother purchases the gift bond, she has to provide a Social Security Number, but it can be either your mother’s or yours, a recipient's. The Social Security Number your mother provides isn't used for tax purposes; the social security number printed on the bond is only used for tracking purposes in case the bond is lost. It has no effect on taxes. With E, EE, and I bonds, the 1099-INT tax form that reports income to the IRS will have the social security number of whoever cashes the bond. I don’t think that this is your case, however, if your mother cashes the bond, then she will get the 1099-INT. It's the SSN on the 1099-Int that is important. You just need to contact a bank officer, a paying institution( as you are required to provide identification that matches your name on the savings bond) and an IRS agent in your local area. |