“I cashed in several bonds in January of THIS year (2012). My bank sent a 1099-INT form that is dated 2011. Should I include this income on this year's filling? “---->If you have not reported the increase in the redemption value of the bonds as interest each year, you must report all of the interest in the year they are cashed, 2012, or otherwise disposed of if your total taxable interest for the year, 2012, is more than $1500, you must complete Sch B, Part 1, and attach it to your Form 1040; if your total interest is not more than $1500 for the year,2012, then you need to report the (savings) bond interest with your other interest on the "Interest" line of your tax return. |