savings bonds to 529

Forum|Forum|1 year ago
March 12, 2025
2 replies
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Situation - Eligible savings bonds cashed and deposited to 529 - All eligibility rules / income guidelines were met to exclude ALL the interest from the savings bond -

However, the only way I can get TT desktop to exclude ALL the interest is by entering the total amount cashed and deposited on line 3 Form 8815 - the end result appears fine - BUT the description of Line 3 does NOT represent what we are doing....

Line 3 says:

Enter the total qualified higher education expenses you paid in 2024 for the person(s) listed in column

Does anyone have another work around, or is this acceptable?

TurboTax Home & Biz Windows

AnnetteB6

Level 15

If you were referring to line 2 instead of line 3 of Form 8815, then you are entering the information correctly.

According to the instructions for Form 8815, line 2 is qualified education expenses which can include contributions to a Coverdell ESA or a QTP for the person listed on the form. The QTP is a Qualified Tuition Program, or the 529 plan.

For reference, here is a link to the instructions for Form 8815:

Form 8815

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MoneymomAuthor

Level 2

Yes - I realized line 2 after I hit "send" - and Thank you! I actually did find the answer on IRS form instructions - happy to get your confirmation as well.

Have a great day!