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GiftLaw Pro Home   >  Chapter 4 - Specific Property Gifts  >  4.11 Savings Bonds  >  4.11.1 Types of Savings Bonds  >  Basic Quiz

Basic Quiz - 4.11.1 Types of Savings Bonds

1. Series EE savings bonds can earn interest indefinitely.
           
2. The increase in value of Series EE savings bonds represents unrealized capital gain.
           
3. 3. The "original maturity" of a Series EE savings bond is 25 years from the issue date of the savings bond.
           
4. A disadvantage of Series EE savings bonds is that a taxpayer must report the interest income each year.
           
5. A taxpayer may elect to realize the interest income immediately on Series EE savings bonds.
           
6. Series EE savings bonds are redeemed through the Internal Revenue Service.
           
7. The term "final maturity" refers to the death of a taxpayer.
           
8. An advantage of Series EE savings bonds is the ability to redeem the bonds without having to report the accumulated interest income.
           
9. Even though taxpayers may "rollover" their Series EE bonds into Series HH bonds, it is still a taxable event.
           
10. Similar to Series EE savings bonds, Series I savings bonds accumulate interest income tax-free.