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re: Procedures for cashing out 20YR bond early? Even possible?
Posted on 10/9/12 at 10:42 am to ThatsAFactJack
Posted on 10/9/12 at 10:42 am to ThatsAFactJack
it's a municipal road bond. Harris County, TX
we're talking about $20,000
method of extraction really doesn't bother me. i knew this was a potential option, but i wasn't expecting it so soon. trying to handle in most fiscal way possible for my mom and myself.
for clarification, compadre from 1996 or 1997?
we're talking about $20,000
method of extraction really doesn't bother me. i knew this was a potential option, but i wasn't expecting it so soon. trying to handle in most fiscal way possible for my mom and myself.
for clarification, compadre from 1996 or 1997?
This post was edited on 10/9/12 at 10:49 am
1
Posted on 10/9/12 at 10:56 am to Rouge
1997
Did you buy your bond thru a broker? If so you can sell your holding based on the current market and possibly have a capital gains tax. If your bond is not thru a broker you would need to contact the municipality or trustee directly and their would be tax implications (i.e. early withdrawal penalties)
Full Disclosure: I am not a broker but am highly involved in various bond projects we have done to finance hospital expansion.
Did you buy your bond thru a broker? If so you can sell your holding based on the current market and possibly have a capital gains tax. If your bond is not thru a broker you would need to contact the municipality or trustee directly and their would be tax implications (i.e. early withdrawal penalties)
Full Disclosure: I am not a broker but am highly involved in various bond projects we have done to finance hospital expansion.
This post was edited on 10/9/12 at 11:04 am
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