Form 8815 - Exclusion Of Interest From Series Ee And I U.s. Savings Bonds Issued After 1989 - 2013 Page 3
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Form 8815 (2013)
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 2013 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 2013 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 2013 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: $89,700 if
section 117. See chapter 1 of Pub. 970 for more information.
single or head of household; $142,050 if married filing jointly or
• Veterans’ educational assistance benefits.
qualifying widow(er) with dependent child. See the instructions for line 9
• Employer-provided educational assistance benefits that are not
to figure your modified AGI.
included in box 1 of your Form(s) W-2.
• Payments, waivers, or reimbursements of educational expenses under
U.S. Savings Bonds That Qualify for Exclusion
a QTP.
To qualify for the exclusion, the bonds must be series EE or I U.S.
• Any other payments (but not gifts, bequests, or inheritances) for
savings bonds issued after 1989 in your name, or, if you are married,
educational expenses that are exempt from income tax by any U.S. law.
they may be issued in your name and your spouse’s name. Also, you
Do not include on line 3 nontaxable educational benefits paid directly
must have been age 24 or older before the bonds were issued. A bond
to, or by, the educational institution.
bought by a parent and issued in the name of his or her child under age
Example. You paid $10,000 of qualified higher education expenses
24 does not qualify for the exclusion by the parent or child.
in 2013 to the college your son attended. None of the expenses are
Recordkeeping Requirements
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
Keep the following records to verify interest you exclude.
your 2013 tax return. Your son received a $2,000 nontaxable
• Bills, receipts, canceled checks, or other documents showing you paid
scholarship grant for 2013, which was paid directly to him. In this case,
qualified higher education expenses in 2013.
enter $10,000 on line 2 and $2,000 on line 3.
• A written record of each post-1989 series EE or I bond that you cash.
Line 6
Your record must include the serial number, issue date, face value, and
total redemption proceeds (principal and interest) of each bond. You
If you reported any of the interest before 2013, see Pub. 550 for the
can use Form 8818, Optional Form To Record Redemption of Series EE
amount to enter. Otherwise, enter the amount from Form 8818, line 8 (if
and I U.S. Savings Bonds Issued After 1989, as your written record.
you used that form to record the bonds cashed), or use the following
worksheet to figure the amount to enter.
Specific Instructions
Line 1
Line 6 Worksheet (keep a copy for your records)
Column (a). Enter the name of the person who was enrolled at or
1. Enter the amount from Form 8815, line 5 .
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1.
attended an eligible educational institution or for whom you made
2. Enter the face value of all post-1989 paper series EE
contributions to a Coverdell education savings account (Coverdell ESA)
bonds cashed in 2013
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2.
or a qualified tuition program (QTP). This person must be you, your
spouse, or your dependent(s) claimed on line 6c of Form 1040 or Form
3. Multiply line 2 by 50% (.50)
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3.
1040A. An eligible educational institution is generally any accredited
4. Enter the face value of all electronic series EE bonds
public, nonprofit, or private college, university, vocational school, or
(including post-1989 series EE bonds converted from paper
other postsecondary institution. The institution must be eligible to
to electronic format) and all series I bonds cashed in 2013 .
4.
participate in the student aid programs administered by the Department
of Education. Virtually all accredited postsecondary institutions meet
5. Add lines 3 and 4 .
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5.
this requirement.
6. Subtract line 5 from line 1. Enter the result here and on
Column (b). Enter the name and address of the institution. If the person
Form 8815, line 6 .
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6.
was enrolled at or attended more than one, list all of them. Also, if you
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.
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