Form 8818 Rev December Fill in Uncle Fed's Tax*Board

Instructions and help about Form 8818 Rev December Fill In Uncle Fed's Tax*Board

IRS form 8815 exclusion of interest from series EE and I U.S savings bond issued after 1989. so uh the federal government has a tax incentive for people who use savings bonds or U.S savings bonds specifically to pay for higher qualified higher education expenses so this is a fairly straightforward forum and basically what it allows you to do is it allows you to report the amount of interest that you would have paid or that you would have earned that you would have paid taxes on from either series EE savings bonds that were issued after 1989 or I bonds which are inflation uh savings bonds that are adjusted for inflation periodically so the exclusion of Interest simply means that you can report the interest on your tax return and not pay taxes on it the the qualifications are that you have to have qualified higher education expenses they have to be qualified savings bonds and that the taxpayer must meet certain income uh thresholds so we'll walk through this form we'll kind of go through