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As long as stocks were not inside the tax deferred account - you may not defer the tax liability by investing proceeds - regardless of re-investing into bonds or other assets.
Because current interest rate is relately low - bonds might not be the best investment.
Also if interest rate will go up - bond's prices will go down.
See for instance this article - http://forecastsandtrends.com/article.php/805/
From tax prospective - interest paid by individual bonds will be taxed as a regular income - not long term capital gain (as in case of dividends).
However - if bond priced will go down and you will sell bonds - that will be capital loss - which may be used only against other capital gains - and if you have a net capital loss - only up to $3000 may be used to offset other taxable income.
Let me know if you need any help.