US Savings Bond EE Accrued Interest

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arat
Posts: 1
Joined: Mon Mar 18, 2024 5:00 pm

US Savings Bond EE Accrued Interest

Post by arat »

Hi,

I am a US Citizen /Canadian PR. I live in Canada.

During 2023 I redeemed a bunch of Series EE Savings Bonds and of course received a 1099 INT form this year.

I paid taxes on all the accrued interest on the bonds each year that I've owned them in both countries. You can see the accrued interest claimed on both the Canadian filings and US filings. My question is, how do I tell the IRS that this interest is already paid? The treasury direct website says that I was correct in that you can pay the interest as it accures or at redemption but I have to tell the IRS that this interest was paid already. They referred me to IRS Pub 550 and said:

"When you get the 1099-INT at the end, it will show all the interest the bond earned over the years. For instructions on how to tell the IRS that you already reported some or all of that interest in earlier years, go to IRS Publication 550 and look for the section on U.S. Savings Bonds."

However, when i go through this publication I didn't find instructions telling me how to handle it.

Can you help?

Thanks.
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