Income Beginner: US Savings Bonds

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1.
The tax advantages of Series EE and Series I bonds include all of the following except _______.
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No federal tax on earnings. Unless the bonds are owned by your child or special exclusions for educational expenses apply, you must pay federal taxes on the earnings of your Series EE and Series I bonds. You do not need to pay state or local taxes, however.
2.
You can cash another person's savings bond if _______.
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The owner is your child. You may redeem savings bonds owned by your dependent children.
3.
Why was the Series I bond created?
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To provide a rate of return that keeps pace with inflation. The rate changes periodically, based on inflation.
4.
The US government established savings bonds to _______.
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Pay for expenses related to World War II. The US government began issuing savings bonds in 1941, using movies, posters, and other media to publicize the effort.
5.
You can purchase a maximum of $10,000 in series EE bonds in a single calendar year.
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True. You may buy up to a face value maximum of $10,000 in series EE bonds annually.
6.
You can replace a lost savings bond by sending the appropriate form to _______.
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The US Bureau of Public Debt. If you lose a savings bond, you can request Form PDF 1048 from a participating bank, credit union, or Federal Reserve bank, complete it, and return it to the Division of Transactions and Rulings of the US Bureau of Public Debt.