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- Yes, Series EE Bonds have a tax-exempt status when used for qualified education expenses. If you use the bonds to pay for college tuition or other eligible education expenses, you may be able to exclude the interest from your federal income tax. Be sure to review the IRS guidelines regarding education tax benefits to ensure compliance.
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What is an education savings bond program?
Using bonds for higher education. Normally, the interest you earn on your savings bonds becomes part of your gross income for tax purposes. Under certain conditions, though, you can avoid taxes on the interest by using it to pay for higher education. On this page: Which savings bonds qualify? What other restrictions apply?
May 8, 2024 · The federal government allows qualified holders of Series I bonds – and Series EE bonds, too – to exclude from their income any interest paid when the bonds are cashed as long as the bond...
Sep 1, 2022 · Series I U.S. Savings Bonds provide liquidity and tax-advantaged flexibility outside special accounts such as individual retirement accounts or education savings accounts and may be a good vehicle for education savings.
Jul 21, 2022 · An education savings bond program lets taxpayers exempt some or all of the interest earned upon redemption of eligible savings bonds from their annual gross income. The bond owner must be...
If you cashed series EE or I U.S. savings bonds in 2023 that were issued after 1989, you may be able to exclude from your income part or all of the interest on those bonds. Use this form to figure the amount of any interest you may exclude.
