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Originally Posted by wdfifteen
Haven't you heard from the IRS? I would think by now their computers would have kicked out a form letter about your failure to include the 1099-INT in your 1988 return.
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I did a little checking and it looks like you don't get a 1099-INT until after the bonds are redeemed, but you are expected to declare the interest when they mature, whether you cash them in or not. Chances are the penalties won't be much or anything. The tax will probably hurt a little more, the interest income on $1,500 of matured face value is what?