Education Tax Exclusion for US Savings Bonds Income Limits The full interest exclusion is only available to married couples filling joint returns and to single filers. Modified adjusted gross income includes the interest earned uner a certain limit in each case. These income limits apply in the year you use bonds for educational purposes, not the year you buy the bonds. Exclusion benefits are phased out for joint or single filers with modified adjusted gross income that exceeds the limit. Full instructions and limits are outlined on IRS Form 8815.
Posted on: Tue, 03 Sep 2013 16:10:55 +0000
Trending Topics
Recently Viewed Topics
© 2015