Re: Tax Free Interest for US Savings Bonds?

"Steve Blank" <steve@[EMAIL PROTECTED]
> wrote in message
news:Kiagi.15961$2v1.12402@[EMAIL PROTECTED]
>
> TheBreeze said the following on 6/26/2007 6:51 AM:
> > Is it possible to make the interest on US Savings Bonds tax-free whe
you
use
> > the money for college tution? If so, how do you work it?
> >
> >
>
> It is possible but there are very specific rules, including that the
> bonds had to be purchased after 1989 and in the name of someone who was
> at least 24 at the time of purchase. There are also maximum income
> requirements.
>
> To claim the interest exclusion you have to file IRS form 8815 which has
> instructions, found at http://www.irs.ustreas.gov/pub/irs-pdf/f8815.pdf
>
> You also should read about the Education Savings bond Program beginning
> on page 56 of the 2006 Publication 17 "Your Federal Income Tax". This is
> also available at the IRS website.
>
> Steven B. Blank
> College Financial Aid Consultants
> 29 Ives Hill Court
> Che****re, CT 06410
> (203)250-7761
>

Many Thanks...