Form 8815 - Exclusion Of Interest From Series Ee And I U.s. Savings Bonds Issued After 1989 - 2015 Page 3
Download a blank fillable Form 8815 - Exclusion Of Interest From Series Ee And I U.s. Savings Bonds Issued After 1989 - 2015 in PDF format just by clicking the "DOWNLOAD PDF" button.
Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.
Complete Form 8815 - Exclusion Of Interest From Series Ee And I U.s. Savings Bonds Issued After 1989 - 2015 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.
Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.
ADVERTISEMENT
1
2
3
43
Form 8815 (2015)
Page
General Instructions
Line 2
Qualified higher education expenses include tuition and fees required for
Section references are to the Internal Revenue Code.
the enrollment or attendance of the person(s) listed on line 1, column (a),
Future Developments
at the institution(s) listed in column (b). They also include contributions
For the latest information about developments related to Form 8815 and
to a Coverdell ESA or a QTP for the person(s) listed on line 1. Qualified
its instructions, such as legislation enacted after they were published,
expenses do not include expenses for:
go to
• Room and board or
Purpose of Form
• Courses involving sports, games, or hobbies that are not part of a
degree or certificate granting program.
If you cashed series EE or I U.S. savings bonds in 2015 that were issued
Do not include on line 2 expenses that were:
after 1989, you may be able to exclude from your income part or all of
• Covered by nontaxable educational benefits paid directly to, or by, the
the interest on those bonds. Use this form to figure the amount of any
educational institution,
interest you may exclude.
• Used to figure an education credit on Form 8863, or
Who Can Take the Exclusion
• Used to figure the nontaxable amount of a distribution from a
You can take the exclusion if all four of the following apply.
Coverdell ESA or QTP.
1. You cashed qualified U.S. savings bonds in 2015 that were issued
Line 3
after 1989.
Enter on this line the total qualified higher education expenses included
2. You paid qualified higher education expenses in 2015 for yourself,
on line 2 that were covered by nontaxable educational benefits. These
your spouse, or your dependents.
benefits include:
3. Your filing status is any status except married filing separately.
• Scholarship or fellowship grants excludable from income under
4. Your modified AGI (adjusted gross income) is less than: $92,200 if
section 117. See chapter 1 of Pub. 970 for more information.
single or head of household; $145,750 if married filing jointly or
• Veterans’ educational assistance benefits.
qualifying widow(er) with dependent child. See the instructions for line 9
to figure your modified AGI.
• Employer-provided educational assistance benefits that are not
included in box 1 of your Form(s) W-2.
U.S. Savings Bonds That Qualify for Exclusion
• Payments, waivers, or reimbursements of educational expenses under
To qualify for the exclusion, the bonds must be series EE or I U.S.
a QTP.
savings bonds issued after 1989 in your name, or, if you are married,
• Any other payments (but not gifts, bequests, or inheritances) for
they may be issued in your name and your spouse’s name. Also, you
educational expenses that are exempt from income tax by any U.S. law.
must have been age 24 or older before the bonds were issued. A bond
Do not include on line 3 nontaxable educational benefits paid directly
bought by a parent and issued in the name of his or her child under age
to, or by, the educational institution.
24 does not qualify for the exclusion by the parent or child.
Example. You paid $10,000 of qualified higher education expenses
Recordkeeping Requirements
in 2015 to the college your son attended. None of the expenses are
Keep the following records to verify interest you exclude.
used to figure an education credit or the nontaxable amount of a
Coverdell ESA or QTP. You claim your son as a dependent on line 6c of
• Bills, receipts, canceled checks, or other documents showing you paid
your 2015 tax return. Your son received a $2,000 nontaxable
qualified higher education expenses in 2015.
scholarship grant for 2015, which was paid directly to him. In this case,
• A written record of each post-1989 series EE or I bond that you cash.
enter $10,000 on line 2 and $2,000 on line 3.
Your record must include the serial number, issue date, face value, and
total redemption proceeds (principal and interest) of each bond. You
Line 6
can use Form 8818, Optional Form To Record Redemption of Series EE
If you reported any of the interest before 2015, see Pub. 550 for the
and I U.S. Savings Bonds Issued After 1989, as your written record.
amount to enter. Otherwise, enter the amount from Form 8818, line 8 (if
Specific Instructions
you used that form to record the bonds cashed), or use the following
worksheet to figure the amount to enter.
Line 1
Line 6 Worksheet (keep a copy for your records)
Column (a). Enter the name of the person who was enrolled at or
attended an eligible educational institution or for whom you made
1. Enter the amount from Form 8815, line 5 .
1.
.
.
.
contributions to a Coverdell education savings account (Coverdell ESA)
2. Enter the face value of all post-1989 paper series EE
or a qualified tuition program (QTP). This person must be you, your
2.
bonds cashed in 2015
.
.
.
.
.
.
.
.
spouse, or your dependent(s) claimed on line 6c of Form 1040 or Form
1040A. An eligible educational institution is generally any accredited
3. Multiply line 2 by 50% (.50)
.
.
.
.
.
.
.
3.
public, nonprofit, or private college, university, vocational school, or
4. Enter the face value of all electronic series EE bonds
other postsecondary institution. The institution must be eligible to
(including post-1989 series EE bonds converted from paper
participate in the student aid programs administered by the Department
4.
to electronic format) and all series I bonds cashed in 2015 .
of Education. Virtually all accredited postsecondary institutions meet
this requirement.
5. Add lines 3 and 4 .
.
.
.
.
.
.
.
.
.
5.
Column (b). Enter the name and address of the institution. If the person
6. Subtract line 5 from line 1. Enter the result here and on
was enrolled at or attended more than one, list all of them. Also, if you
Form 8815, line 6 .
.
.
.
.
.
.
.
.
.
6.
contributed to a Coverdell ESA for the person, enter “Coverdell ESA”
and the name and address of the financial institution where the account
is located. For contributions to a QTP, enter “QTP” and the name and
address of the program.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form 8815 - Exclusion Of Interest From Series Ee And I U.s. Savings Bonds Issued After 1989 - 2017
Financial
Form 8815 - Exclusion Of Interest From Series Ee And I U.s. Savings Bonds Issued After 1989 - 2012
Financial
Form 8815 - Exclusion Of Interest From Series Ee And I U.s. Savings Bonds Issued After 1989 - 2013
Financial
Form 8818 - Optional Form To Record Redemption Of Series Ee And I U.s. Savings Bonds Issued After 1989
Financial
Form 8818 - Optional Form To Record Redemption Of Series Ee And I U.s. Savings Bonds Issued After 1989
Financial
Form 8818 - Optional Form To Record Redemption Of Form 8818 Series Ee And I U.s. Savings Bonds Issued After 1989
Financial
Form 8815 - Exclusion Of Interest From Series Ee U.s. Savings Bonds Issued After 1989 - 1998
Financial
Related Categories
Parent category: Financial