Ok Hal. I took a break for a couple of days since your reply and this morning have entered trial balloon data for the EE bonds cashed and educational expenses in TT. Did not get the result expected or hoped for and I don't understand why. Total of Bonds cashed is $62,208 of which 47,208 was interest.
As per your last message, I entered the EE savings bond interest ($47,208) in Box 3 under the Investment/Savings section of TT. This led to the question about whether savings bonds were used to pay for higher ed expenses to which I replied YES since rolled into a QTP. Then checked the questions about bonds issued after 1989, 24 yrs old, and in our names. This leads to screen where you list all the students info. THEN, I get to screen asking for education expenses where I enter as qualified expenses the $48,000 I rolled over into 529 plans. Then TT asks for more info on EE bonds-- entered : total received= 62,208, face value at issuance=30,000 (but bought at 15,000 thus the $47,208 interest). Next screen says 'Looks like you don't get a tax break". WHAT? I thought EE bonds rolled into 529 plan was exempted. What is going on?
