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Get the free What Are Series I Bonds? Rates, Risks, Taxes Explained

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The earnings rate for Series I Savings Bonds is a combination of a fixed rate, which will apply for the life of the bond, and the inflation rate. The 4.08% percent earnings rate for I bonds bought
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Series I refers to a type of variable interest savings bond issued by the U.S. Department of the Treasury that is designed to protect against inflation.
Individuals who purchase and redeem Series I savings bonds must report them on their tax returns. Furthermore, those who earn interest on these bonds must file accordingly.
To fill out the form for Series I bonds, you need to provide your personal information, the details of the bonds including the serial number, and the amount of interest earned, typically reported on IRS Form 1040.
The purpose of Series I bonds is to provide a safe investment option for individuals while offering interest rates that are adjusted for inflation.
Information that must be reported includes the bond's serial number, issue date, redemption date, and the amount of interest earned during the tax year.
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