WebJul 5, 2024 · U.S. savings bonds also get special tax treatment and can be used as a higher education funding tool for some taxpayers. We will focus on the tax benefits of Series EE, Series HH and Series I savings bonds in this article. ... For 2024: Joint returns begin phasing out the education exclusion of U.S. savings bond interest when modified … WebFeb 18, 2024 · Under the Education Savings Bond Program, you can exclude bond interest from your income if you use bond proceeds to pay qualified education expenses for …

EE bonds — TreasuryDirect

WebThe Income Restrictions on EE Savings Bonds Used in Education By: Mark Kennan Paying college tuition for your children may allow you to exclude savings bond interest from your taxes.... WebMar 6, 2024 · Savings bonds are a sound way to start saving for a grandchild's education. 1. Series EE savings bonds have a long tradition as a gift for children from parents and from grandparents.... dundee duty social work

How to Avoid Paying Taxes on a Savings Bond - Yahoo Finance

WebIf you use savings bonds to pay for qualified higher education expenses, the IRS will waive your tax bill. You must be at least 24 years old when you buy the bonds. If you plan to use... WebNov 18, 2024 · The interest earned on series EE and Series I bonds can be used tax-free for college if the following conditions are met: The funds are used for qualified … WebSavings bonds are a popular birthday and graduation gift and also can be used toward financing education, supplemental retirement income, and other special events. Unlike other securities, minors may hold U.S. savings bonds in their own name. Tax advantages. dundee east delivery office opening times