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.