Form 8815 Exclusion of Interest From Series EE and I U.S. Savings Bonds Issued After 1989
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A written record of each post 1989 series EE or I bond that you cash Any other payments (but not gifts bequests or inheritances) for Bills receipts canceled checks or other documents showing you paid Courses involving sports games or hobbies that are not part of a Covered by nontaxable educational benefits paid directly to or by the Employer provided educational assistance benefits that are not Payments waivers or reimbursements of educational expenses under Room and board or Scholarship or fellowship grants excludable from income under Used to figure an education credit on Form 8863 or Used to figure the nontaxable amount of a distribution from a Veterans educational assistance benefits You are excluding income from Puerto Rico or You are filing Form 2555 or 2555 EZ (relating to foreign earned You have employer provided adoption benefits for 2012 You have investment interest expense attributable to royalty $139 250 or more if married filing jointly or qualifying widow(er) with (For Filers With Qualified Higher Education Expenses) (including post 1989 series EE bonds converted from paper (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) (text) *For purposes of figuring the amount to report on Form 8815 line 9 do 1 (a) 1 Enter the amount from line 2 of Schedule B (Form 1 If you received social security benefits use Pub 915 to figure the 1 You cashed qualified U S savings bonds in 2012 that were issued 1040 8b 9a 21 23* 32 1040A 8b 9a 14b 16* and 17 1040A An eligible educational institution is generally any accredited 1040A or Form 1040) 1 13 and go to line 14 11 2 Form 1040 filers add the amounts on lines 7 9a 10 2 If you made contributions to a traditional IRA for 2012 and you 2 You paid qualified higher education expenses in 2012 for yourself 24 does not qualify for the exclusion by the parent or child 3 Add lines 1 and 2 3 3 If you file Form 1040 figure any amount to be entered on the 3 Your filing status is any status except married filing separately 4 Complete the following lines on your return if they apply 4 Form 1040 filers enter the total of the amounts from 4 Your modified AGI (adjusted gross income) is less than: $87 850 if 5 Enter the result as a decimal (rounded to at least three places) 5 If any of the following apply see Pub 550: 5 Subtract line 4 from line 3 Enter the result here and on 8815 line 14 a QTP Add lines 3 and 4 5 address of the program after 1989 after 1989 that you cashed during 2012 after 1989 you may be able to exclude from your income part or all of American Samoa) 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 and the name and address of the financial institution where the account at the institution(s) listed in column (b) They also include contributions Attach to Form 1040 or Form 1040A Attachment attended an eligible educational institution or for whom you made benefits include: bonds cashed in 2012 2 bought by a parent and issued in the name of his or her child under age can use Form 8818 Optional Form To Record Redemption of Series EE Column (a) Enter the name of the person who was enrolled at or column (a) of line 1 See the instructions to find out which expenses qualify Column (b) Enter the name and address of the institution If the person contributed to a Coverdell ESA for the person enter Coverdell ESA contributions to a Coverdell education savings account (Coverdell ESA) Coverdell ESA or QTP Coverdell ESA or QTP You claim your son as a dependent on line 6c of degree or certificate granting program Department of the Treasury dependent child stop You cannot take the exclusion Divide line 11 by: $15 000 if single or head of household; $30 000 if married filing jointly or Do not include on line 2 expenses that were: Do not include on line 3 nontaxable educational benefits paid directly dotted line next to line 36 dotted line next to line 36 Form 1040A filers enter educational expenses that are exempt from income tax by any U S law educational institution enter $10 000 on line 2 and $2 000 on line 3 Enter on this line the total qualified higher education expenses included Enter the amount from Form 8815 line 5 1 Enter the face value of all electronic series EE bonds Enter the face value of all post 1989 paper series EE Enter the interest included on line 5 (see instructions) Enter the total Form 1040A filers add the amounts on Enter the total of any nontaxable educational benefits (such as nontaxable scholarship or Enter the total proceeds (principal and interest) from all series EE and I U S savings bonds issued Enter the total qualified higher education expenses you paid in 2012 for the person(s) listed in Enter your modified adjusted gross income (see instructions) 9 Enter: $72 850 if single or head of household; $109 250 if married filing Example You paid $10 000 of qualified higher education expenses Excludable savings bond interest Subtract line 13 from line 8 Enter the result here and on Exclusion of Interest From Series EE and I expenses do not include expenses for: fellowship grants) received for 2012 for the person(s) listed in column (a) of line 1 (see instructions) Follow these steps before you fill in the Line 9 Worksheet below For Paperwork Reduction Act Notice see your tax return instructions Cat No 10822S Form 8815 (2012) For the latest information about developments related to Form 8815 and Form 8815 Form 8815 (2012) Form 8815 (2012) Page 2 Form 8815 (2012) Page 4 Form 8815 line 6 6 Form 8815 line 9 5 Future Developments General Instructions go to www irs gov/form8815 If line 4 is equal to or more than line 5 enter 1 000 If line 4 is less than line 5 divide line 4 by line If you cashed series EE or I U S savings bonds in 2012 that were issued IF you file Form THEN complete lines If you need more space attach a statement If you reported any of the interest before 2012 see Pub 550 for the in 2012 to the college your son attended None of the expenses are included in box 1 of your Form(s) W 2 income income) or Form 4563 (exclusion of income for residents of Information about Form 8815 and its instructions is at www irs gov/form8815 Intentionally Left Blank interest you may exclude Internal Revenue Service (99) is located For contributions to a QTP enter QTP and the name and its instructions such as legislation enacted after they were published jointly or qualifying widow(er) with dependent child 10 Keep the following records to verify interest you exclude Line 1 Line 2 Line 3 Line 6 Line 6 Worksheet (keep a copy for your records) Line 9 Line 9 Worksheet (keep a copy for your records) lines 23 through 32 plus any amount entered on the lines 7 9a 10 11b 12b 13 and 14b Enter the total 2 Multiply line 2 by 50% ( 50) 3 Multiply line 6 by line 7 Multiply line 8 by line 12 must have been age 24 or older before the bonds were issued A bond Name and address of eligible educational institution Name of person (you your spouse or your dependent) who Name(s) shown on return not reduce your educator expenses if any by the amount on Form Note: If line 9 is $87 850 or more if single or head of household or of Education Virtually all accredited postsecondary institutions meet OMB No 1545 0074 on line 2 that were covered by nontaxable educational benefits These or a qualified tuition program (QTP) This person must be you your other postsecondary institution The institution must be eligible to Page 3 participate in the student aid programs administered by the Department places) public nonprofit or private college university vocational school or Purpose of Form qualified higher education expenses in 2012 Qualified higher education expenses include tuition and fees required for qualifying widow(er) with dependent child Enter the result as a decimal (rounded to at least three qualifying widow(er) with dependent child See the instructions for line 9 Recordkeeping Requirements savings bonds issued after 1989 in your name or if you are married Schedule B (Form 1040A or Form 1040) line 3 scholarship grant for 2012 which was paid directly to him In this case section 117 See chapter 1 of Pub 970 for more information Section references are to the Internal Revenue Code Sequence No 167 single or head of household; $139 250 if married filing jointly or Specific Instructions spouse or your dependent(s) claimed on line 6c of Form 1040 or Form Step Action Subtract line 10 from line 9 If zero or less skip line 12 enter 0 on line Subtract line 3 from line 2 If zero or less stop You cannot take the exclusion Subtract line 5 from line 1 Enter the result here and on taxable amount of your benefits the amount from lines 16 and 17 4 the enrollment or attendance of the person(s) listed on line 1 column (a) the interest on those bonds Use this form to figure the amount of any they may be issued in your name and your spouse s name Also you this requirement through 14 15b 16b 17 through 19 20b and 21 to a Coverdell ESA or a QTP for the person(s) listed on line 1 Qualified to electronic format) and all series I bonds cashed in 2012 4 to figure your modified AGI to or by the educational institution To qualify for the exclusion the bonds must be series EE or I U S total redemption proceeds (principal and interest) of each bond You U S Savings Bonds Issued After 1989 U S Savings Bonds That Qualify for Exclusion use Pub 590 to figure your IRA deduction used to figure an education credit or the nontaxable amount of a was enrolled at or attended an eligible educational institution was enrolled at or attended more than one list all of them Also if you were covered by a retirement plan at work or through selfemployment Who Can Take the Exclusion worksheet to figure the amount to enter You can take the exclusion if all four of the following apply you used that form to record the bonds cashed) or use the following your 2012 tax return Your son received a $2 000 nontaxable Your record must include the serial number issue date face value and Your social security number your spouse or your dependents