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Form 8815 - Exclusion of Interest From Series EE and I U.S. Savings Bonds Issued After 1989 (For Filers With Qualified Higher Education Expenses)

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Question
Form 8815 - Exclusion of Interest From Series EE and I U.S. Savings Bonds Issued After 1989 (For Filers With Qualified Higher Education Expenses)

Answer

You can take the exclusion if all four of the following apply.

1. You cashed qualified U.S. savings bonds in 2014 that were issued after 1989.

2. You paid qualified higher education expenses in 2014 for yourself, your spouse, or your dependents.

3. Your filing status is any status except married filing separately.

4. Your modified AGI (adjusted gross income) is less than: $91,000 if single or head of household; $143,950 if married filing jointly or qualifying widow(er) with dependent child. See the instructions for line 9 to figure your modified AGI.

U.S. Savings Bonds That Qualify for Exclusion

To qualify for the exclusion, the bonds must be series EE or I U.S. savings bonds issued after 1989 in your name, or, if you are married, they may be issued in your name and your spouse’s name. Also, you must have been age 24 or older before the bonds were issued. A bond bought by a parent and issued in the name of his or her child under age 24 does not qualify for the exclusion by the parent or child.

 


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Views: 824 Created on: Jun 15, 2013
Date updated: Sep 02, 2015

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