Form 8815 - Exclusion Of Interest From Series Ee U.s. Savings Bonds Issued After 1989 - 1998
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1Exclusion of Interest From Series EE
8815
OMB No. 1545-1173
1998
Form
U.S. Savings Bonds Issued After 1989
(For Filers With Qualified Higher Education Expenses)
Department of the Treasury
Attachment
57
(99)
Attach to Form 1040 or Form 1040A.
Internal Revenue Service
Sequence No.
Name(s) shown on return
Your social security number
(a)
1
(b)
Name of person (you, your spouse, or your dependent) who
Name and address of eligible educational institution
was enrolled at or attended an eligible educational institution
+020
*010 "STM nn"
*+030 "NONE" or "STM nn"
+040
060
050
070 "NONE"
080
100
090
110 "NONE"
120
If you need more space, attach additional sheets.
2
Enter the total qualified higher education expenses you paid in 1998 for the persons listed in
2
170
column (a) of line 1. See the instructions to find out which expenses qualify
3
Enter the total of any nontaxable educational benefits (such as nontaxable scholarship or
3
180
fellowship grants) received for 1998 for the persons listed in column (a) of line 1. See instructions
4
190
4
Subtract line 3 from line 2. If zero or less, stop. You cannot take the exclusion
5
Enter the total proceeds (principal and interest) from all series EE U.S. savings bonds issued
5
200
after 1989 that you cashed during 1998
6
210
6
Enter the interest included on line 5. See instructions
7
If line 4 is equal to or more than line 5, enter “1.000.” If line 4 is less than line 5, divide line 4
7
.
220
by line 5. Enter the result as a decimal (rounded to at least three places)
230
8
8
Multiply line 6 by line 7
9
240
9
Enter your modified adjusted gross income. See instructions
Note: If line 9 is $67,250 or more if single or head of household, or
$108,350 or more if married filing jointly or qualifying widow(er), stop.
You cannot take the exclusion.
250
"52250"
10
Enter: $52,250 if single or head of household; $78,350 if married filing
or "78350"
10
jointly or qualifying widow(er)
11
Subtract line 10 from line 9. If zero or less, skip line 12, enter -0- on
260
11
line 13, and go to line 14
12
Divide line 11 by: $15,000 if single or head of household; $30,000 if married filing jointly or
.
12
270
qualifying widow(er). Enter the result as a decimal (rounded to at lease three places)
13
280
13
Multiply line 8 by line 12
14
Excludable savings bond interest. Subtract line 13 from line 8. Enter the result here and on
Schedule B (Form 1040), line 3, or Schedule 1 (Form 1040A), line 3, whichever applies
14
290
General Instructions
Who May Take the Exclusion
You may take the exclusion if all four of the following apply:
Section references are to the Internal Revenue Code.
1. You cashed qualified U.S. savings bonds in 1998 that were
Changes To Note
issued after 1989.
Beginning in 1998, you may be able to take an education credit for
2. You paid qualified higher education expenses in 1998 for
the qualified higher education expenses you paid. See the Form
yourself, your spouse, or your dependents.
8863, Education Credits, instructions for details. If you take a credit,
3. Your filing status is any status except married filing separately.
do not include on Form 8815, line 2, the expenses used to figure the
4. Your modified AGI (adjusted gross income) is less than: $67,250
credit. Also, qualified higher education expenses include
if single or head of household; $108,350 if married filing jointly or
contributions to a qualified state tuition program or to an education
qualifying widow(er). See the line 9 instructions to figure your
IRA.
modified AGI.
Purpose of Form
U.S. Savings Bonds That Qualify for Exclusion
If you cashed series EE U.S. savings bonds in 1998 that were issued
To qualify for the exclusion, the bonds must be series EE U.S.
after 1989, you may be able to exclude from your income part or all
savings bonds issued after 1989 in your name, or, if you are married,
of the interest on those bonds. Use Form 8815 to figure the amount
they may be issued in your name and your spouse’s name. Also, you
of any interest you may exclude.
must have been age 24 or older before the bonds were issued. A
bond bought by a parent and issued in the name of his or her child
under age 24 does not qualify for the exclusion by the parent or
child.
8815
For Paperwork Reduction Act Notice, see back of form.
Cat. No. 10822S
Form
(1998)
A-82
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