Using tax return for additional I-Bonds

Investing
1

I’ve read where you can invest an additional $5,000 in I-Bonds with your tax return (over the $10,000 allowed). Questions I have not found answers to:

  1. Is this also $5,000 per person? So if my wife and I file a joint return, can we invest $10,000 each and then an additional $5,000 each if we have $10,000 tax refund for a total of $30,000 ($15,000 each)?
  2. Assuming I-Bonds keep paying good returns, does it make sense to pay additional tax in December so that you will have this large a return?
  3. Does it have to be directly deposited into your I-Bond account? Is it then possible to split the deposit into 2 accounts - mine and my wifes?
2

Can you just setup single member LLCs and buy as many iBonds as you want? I seem to recall that corporations and LLCs were eligible.

1 Like
3

If you file jointly you get $5000 for that joint return. They come in paper bonds jointly titled, as per the tax return itself. Then you each can buy $10000 in your individual TD accounts. As for corporations buying I bonds, I am admit to knowing nothing about that.

There are proposals to raise the limit.