How do I enter I Bond interest used for higher education expense as tax exempt?

Forum|Forum|4 years ago
April 10, 2022
2 replies
18 views

redeemed 2 bonds for dependent's college expenses. Supposed to be Federal

ProConnect Tax

This topic has been closed for replies.

Best answer by BobKamman

Last time I had one of those, the AGI was too high. Looks like the limit now is $98,200 single or HH, $154,800 if MFJ. Don't buy bonds, it only encourages them.

rbynaker

Level 13

Take a look at Form 8815.

https://www.irs.gov/pub/irs-pdf/f8815.pdf

K

Kathy1225Author

Level 2

Thanks I did look up 8815 and realized his AGI was too high.

BobKammanAnswer

Level 15

Last time I had one of those, the AGI was too high. Looks like the limit now is $98,200 single or HH, $154,800 if MFJ. Don't buy bonds, it only encourages them.

K

Kathy1225Author

Level 2

That was the problem with my situation. I ended up on the IRS website and saw that the AGI for my client was too high. You know it's time to call it a day when you had made a note of the same situation for the same client from 2 years ago. This tax season can't end soon enough for me! Thanks for your time!

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