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Home / Services / Calculators / Newsletter / Archives U.S. Savings Bonds, Series EE or I U.S. Savings Bonds, Series EE or I that you redeem will have interest that you will have to pay tax on. However, the interest is not taxable if the total redemption (principal and interest) is less than your qualified higher education expenses for you, spouse or dependant. YOU must have purchased the bonds yourself. You must be as least 24 when you purchased the bonds. If you are married, you must file a joint return. Married taxpayers with adjusted gross income of under $86,400 and single taxpayers with adjusted gross income under $57,600 qualify for this exclusion. Taxpayers with higher incomes may qualify for a partial exclusion. (February, 2003 Newsletter)
James E. Newland, CPA 939 Center Road Eastlake, Ohio 44095 440-951-9799 |
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