Buying U.S. Savings Bonds with Your TurboTax Refund
Series I Savings Bonds are a safe and convenient way for you to set aside some extra money from your federal tax refund.
The “I” stands for “inflation" indexed. These bonds assure you a rate of return over and above inflation.
- You can request a deposit of your refund (or part of it) to buy up to $5,000 in U.S. Series I Savings Bonds. You'll be given instructions how to do this when you are ready to file your return with TurboTax.
- The amount you request must be in multiples of $50.
- If the amount you elect to send to yourself or to someone else is more than $250, then $50 savings bonds will be issued up to $250, then the fewest number of additional savings bonds will be issued in denominations of $100, $200, $500 or $1,000.
- You don't need a TreasuryDirect account to do this.
- If you choose to buy Series I bonds, they will be issued in the name of yourself (and your spouse if filing a joint return) or a person you select.
- We recommend you designate a beneficiary for your savings bond(s). A beneficiary is the person who will receive the proceeds from your bonds in the case of your death.
- You will receive the amount you designated by mail in the form of U.S. Series I Savings Bond. Expect them in about three weeks from your purchase.
Are there reasons I might not be able to buy the bonds?
- There's an error on your return.
- Your bond request is not a multiple of $50.
- Your refund is offset to pay other obligations, such as back taxes or child support.
If you aren't eligible, you will receive your refund by check in the mail.
To learn more about the bonds and their benefits, see Understanding How Series I U.S. Savings Bonds Work.