Exclusion Of Interest From Series EE And I US Savings Bonds Issued After 1989, Form 8815 (2023)

The Interest Exclusion for Series EE and I U.S. Savings Bonds issued after 1989 is a tax perk allowing bondholders to skip paying taxes on the money they make from these bonds. This benefit aims to encourage people to invest in these government-backed bonds for personal savings and financial stability. Here's what you need to know:

• Which Bonds Count?

  • This perk is for Series EE and I U.S. Savings Bonds made after 1989.
  • They must be in an individual's name, not a company's.

• How to Use the Money?

  • You get the tax break when you use the bond money to pay for certain higher education expenses.

• Income Limits

  • You have to earn under a certain amount to qualify.
  • Your income determines if you can use this perk.

• Educational Expenses Included

  • The money can cover things like tuition and fees for you, your spouse, or a dependent.

• Tax Benefits

  • You won't pay taxes on the interest from these bonds.
  • It helps make education more affordable by lowering your tax bill.

To get current year's Form 8815, click here.