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Treasury Inflation Protection Bonds

Posted on 2011-04-28
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Medium Priority
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Last Modified: 2012-05-11
I own some so called Treasury Inflation Protection Bonds. It is very time consuming to do the Federal Income tax calculations. Is there some software that could simplify the calculations? I have a MAC and a PC but I do not own a smartphone or Ipad.
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Question by:Moharo
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Expert Comment

by:nickg5
ID: 35493446
Are your bonds savings bonds?

When a bond is redeemed, an IRS Form 1099-INT is issued, either at the time of redemption or at the end of the tax year, to the person who redeemed the bond.

So, you are redeeming multiple times a year?

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Author Comment

by:Moharo
ID: 35494427
When one owns TIPS, he is obligated to pay taxes on phantom income. The IRS gives you certain information every month but you have determine the tax due based on your own unique factors.
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Expert Comment

by:nickg5
ID: 35494510
I know a nationwide investment forum where surely you'll get the answer.
I am not sure if the rules of EE, allow me to offer another forum.
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Author Comment

by:Moharo
ID: 35495623
I would appreciate any help.
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Expert Comment

by:nickg5
ID: 35497304
let me ask the mods, if I can refer you to another forum. I think the rule says no.
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Expert Comment

by:letenglandshake
ID: 35498145
Please see http://www.experts-exchange.com/Q_26986983.html

letenglandshake
EE Moderator
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Expert Comment

by:nickg5
ID: 35501576
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Expert Comment

by:nickg5
ID: 35501578
they have a business forum and between the investing and business, someone there has dealt with TIPS and taxes.
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Author Comment

by:Moharo
ID: 35507070
I searched that forum  and then posted the question.
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LVL 25

Expert Comment

by:nickg5
ID: 35507530
I asked, on there, how to buy silver without buying coins, or the actual metal, and so far no answer.

Someone will get you a reply.

I saw Turbo tax related to your question.
Have you tried that?
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Author Comment

by:Moharo
ID: 35515931
Regarding silver there is an ETF called iShares Silver Trust SLV. They own the bullion but if you sell the shares at a profit watch out for the tax trap. The tax is at your ordinary rate with a maximum of 28% (as if it is a collectible). I did not get any helpful information from the forum.  Articles in today’s Wall Street Journal state that because of the tax complication, individuals should only own them in an IRA. There are TIPS Mutual funds but the fees are high. Also see an article in the Wall Street Journal of April 30, 2011 entitled “How Inflation-Protected Funds Get to Inflate Their Yields.”  I will check Turbo.
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Expert Comment

by:nickg5
ID: 35516058
let me look around.

My Schedule D and D-1 is 35 pages....you want to trade?

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Expert Comment

by:nickg5
ID: 35516098
TurboTax Premier Online 2010 (*Est. $50).
All versions are compatible with Windows

and Mac <<<<<<<

http://www.consumersearch.com/tax-preparation-software/turbotax-premier-2010

I guess you would have to find out which type calculations is can do.
When I pass on there is no one I know, that will be able to complete my 1040 Schedule D. It will be a mess.
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Author Comment

by:Moharo
ID: 35517247
I do not believe Turbo tax helps one calculate the TIPs tax liability. They talk about savings Ibonds which adjusts for inflation and which is tax deferred for the individual.
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Accepted Solution

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nickg5 earned 1500 total points
ID: 35517286
ok, hope you find something that helpd you.
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Author Closing Comment

by:Moharo
ID: 35517958
Did not get the answer to my question but there may not be an answer.
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