Tax Facts

7631 / What does the holder of a Treasury note or bond include in annual income?

(1) Unless the note or bond was issued before March 1, 1941 (in which case it may be only partly taxable), stated interest that accrues after the date of purchase is included as ordinary income in the year in which it is received or made available (i.e., as a general rule, the date the coupon becomes due or the interest check is received).1 If an...

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