- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
@glenj03-gmailcom You haven't provided enough info. It depends on how the bonds are registered (whose name they're in). It depends on your MAGI. As previously stated, the savings bond interest is included in calculating MAGI. So, having so much interest could disqualify you or reduce the amount of interest that qualifies. Of course you must also have qualifying educational expenses, for you, your spouse or your dependents, including timely 529 contributions.
The exclusion benefit is phased out in 2021 for modified AGI of $82,350 to $97,350 (unmarried) and $122,550 to $153,550 (married).
References: https://www.treasurydirect.gov/indiv/planning/plan_education.htm
https://thismatter.com/money/tax/education-savings-bonds-program.htm
March 14, 2022
4:33 AM