This is a series of Frequently Asked Questions about taxes and savings bonds.

• 1) SOCIAL SECURITY NUMBER ON BONDS RECEIVED AS GIFTS

  1.1) Our daughter received a savings bond as a gift. The person who gave the gift used his own Social Security Number to register the bond instead of our daughter's Social Security Number. Should we change the Social Security Number? If we don't change it, will the bond buyer be responsible for paying the taxes when we cash the bond?

• 2) EXCHANGING SERIES E OR EE BONDS FOR SERIES HH BONDS

  2.1) I have some Series EE bonds that I'd like to exchange for Series HH bonds. How do I do this?
  2.2) What are the tax implications of redeeming a Series E bond and converting it to a Series HH bond?

• 3) TAX LIABILITY

  3.1) My 12-year old daughter and I are listed as co-owners on several bonds. I'd like to cash some of these bonds and make sure my daughter has the tax liability. Is this possible?

• 4) REISSUING SAVINGS BONDS TO REMOVE A CO-OWNER

  4.1) My husband and I currently own several savings bonds that have both of our names on them in the following form: John Doe or Jane Doe. We'd like to change the registration of these bonds so only one name appears on the bond. Can we do this?
  4.2) I'm a co-owner on several Series EE/E savings bonds with my deceased father. I'd like to have some of these bonds reissued to make my brother the owner and his son the co-owner. Am I subject to taxes on these bonds if my name is removed?

• 5) TAX DEFERRAL WHEN CASHING SAVINGS BONDS

  5.1) I've bought and saved several thousand dollars' worth of savings bonds over the years. I want to redeem all or some of the bonds and put the funds into an Individual Retirement Account (IRA) so I can continue to defer interest. Is there a way to do this without having to pay tax on the interest earned when I redeem them?
  5.2) Is there any way to defer the taxes when cashing savings bonds to buy a home?
  5.3) I'm not sure how I should go about reporting savings bond interest for my taxes. Can you tell me what my options are?

• 6) TAXES WHEN SAVINGS BONDS ARE CASHED FOR EDUCATION

  6.1) I'd like some general information about tax exemption when cashing bonds for education. Where can I get this information?
  6.2) If savings bonds are used to pay for college tuition, are they tax exempt? If so, what requirements must be met and what forms are necessary to claim exemption?
  6.3) When I bought savings bonds for my children's education, I was confused about how they should be registered to qualify for the education tax exclusion -- I mistakenly registered them in my children's names instead of my own. Can I get the name on these bonds changed so they qualify for the tax exclusion?
  6.4) I'm a U.S. citizen, but I live in Europe. If my child attends a university in Europe, I'd still like to use savings bonds I've bought for his educational expenses. How do I find out which schools qualify for this program?

This FAQ is maintained by the Bureau of the Public Debt's Savings Bond Operations Office. Keep in mind that these questions may not fit all situations and are only intended as guidelines.