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How do i enter us savings bond interest for education

 
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Accepted Solutions

How do i enter us savings bond interest for education

Here are the steps for entering savings bond interest: 

  • Log into your account and click Take Me to My Return
  • Search for “1099INT” and click the jump-to link
  • Enter the initial details for the interest and click the small checkbox that indicates you have more information to enter
  • Enter the savings bond interest in box 3 
  • You will come to a screen “Tell us if any of these uncommon situations apply” - click none if none apply and click continue 
  • The program will ask if you have more interest to enter - click No (if none)
  • Now, you are going to come back to the screen “Here’s the interest we have so far” - click Done (this is the screen where you need to keep going)
  • The next screen will ask “Did you cash in any Series EE or I U.S. Savings bonds?" - click Yes
  • The next screen will ask “Did you use your U.S. savings bonds to pay for higher education expenses?” - click Yes
  • The next screen will ask for details about the bonds you cashed.  Answer the qualifying questions and click continue to finish the interview

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2 Replies

How do i enter us savings bond interest for education

Here are the steps for entering savings bond interest: 

  • Log into your account and click Take Me to My Return
  • Search for “1099INT” and click the jump-to link
  • Enter the initial details for the interest and click the small checkbox that indicates you have more information to enter
  • Enter the savings bond interest in box 3 
  • You will come to a screen “Tell us if any of these uncommon situations apply” - click none if none apply and click continue 
  • The program will ask if you have more interest to enter - click No (if none)
  • Now, you are going to come back to the screen “Here’s the interest we have so far” - click Done (this is the screen where you need to keep going)
  • The next screen will ask “Did you cash in any Series EE or I U.S. Savings bonds?" - click Yes
  • The next screen will ask “Did you use your U.S. savings bonds to pay for higher education expenses?” - click Yes
  • The next screen will ask for details about the bonds you cashed.  Answer the qualifying questions and click continue to finish the interview

How do i enter us savings bond interest for education

Thanks for the reply. I have followed the instructions you provided. In the last step you are prompted to enter "Qualified Higher Education Expenses Paid in 2018" Above this it states that "Education expenses you enter here can't be reused to calculate an education credit or deduction. To maximize your refund, only enter expenses here which are not used to calculate an education deduction or credit". In the Education deduction section you are prompted to enter the 1098-T you received from the institution. So if I paid 39k in qualified expenses (on the 1098-T) to get and education/tuition credit, can I split some of that out to provide an amount for the savings bond interest deduction?
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