Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: MONDAY, June 13, 1994 TAG: 9407070053
SECTION: BUSINESS PAGE: 6 EDITION: METRO
SOURCE: Mag Poff Staff Writer
DATELINE: LENGTH: Short
WHEN TO PAY TAXES ON EE BOND GAINS
Q: In October 1986, my wife and I jointly purchased six $10,000 EE bonds
(with a 7.5% floor). In August 1992 we purchased six more (with a 6 percent
floor). The value as of Dec. 31, 1993, was $50,232 and $32,040 respectively,
the total gain being $22,272. We are nearing 75 years of age. We have paid
no income on the gain as yet. Our income from interest, dividends and Social
Security varies, but with the present low interest rates is about $75,000
annually.
by CNB