Form 8815 Exclusion of Interest From Series EE and I U.S. Savings

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Form

8815

Exclusion of Interest From Series EE and I
U.S. Savings Bonds Issued After 1989

OMB No. 1545-0074

2019

(For Filers With Qualified Higher Education Expenses)

Department of the Treasury
Internal Revenue Service (99)

▶

Go to www.irs.gov/Form8815 for the latest information.
▶ Attach to Form 1040 or 1040-SR.

Attachment
Sequence No. 167
Your social security number

Name(s) shown on return

DRAFT AS OF
August 14, 2019
DO NOT FILE
1

(a)
Name of person (you, your spouse, or your dependent) who
was enrolled at or attended an eligible educational institution

(b)
Name and address of eligible educational institution

If you need more space, attach a statement.
2

3

4
5

6
7

8
9

10
11
12
13
14

Enter the total qualified higher education expenses you paid in 2019 for the person(s) listed in column
(a) of line 1. See the instructions to find out which expenses qualify . . . . . . . . . . . .
Enter the total of any nontaxable educational benefits (such as nontaxable scholarship or fellowship
grants) received for 2019 for the person(s) listed in column (a) of line 1. See instructions . . . . .
Subtract line 3 from line 2. If zero or less, stop. You cannot take the exclusion . . . . . . . .
Enter the total proceeds (principal and interest) from all series EE and I U.S. savings bonds issued
after 1989 that you cashed during 2019 . . . . . . . . . . . . . . . . . . . .
Enter the interest included on line 5. See instructions . . . . . . . . . . . . . . . .
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 by line 5.
Enter the result as a decimal (rounded to at least three places) . . . . . . . . . . . . .
Multiply line 6 by line 7 . . . . . . . . . . . . . . . . . . . . . . . . . .
Enter your modified adjusted gross income. See instructions . . . . . .
9
Note: If line 9 is $96,100 or more if single, head of household, or qualifying
widow(er); or $151,600 or more if married filing jointly, stop. You cannot take
the exclusion.
Enter: $81,100 if single, head of household, or qualifying widow(er); $121,600 if
married filing jointly . . . . . . . . . . . . . . . . . . .
10
Subtract line 10 from line 9. If zero or less, skip line 12, enter -0- on line 13,
and go to line 14 . . . . . . . . . . . . . . . . . . . .
11
Divide line 11 by: $15,000 if single, head of household, or qualifying widow(er); $30,000 if
filing jointly. Enter the result as a decimal (rounded to at least three places) . . . . . .
Multiply line 8 by line 12 . . . . . . . . . . . . . . . . . . . . . . .
Excludable savings bond interest. Subtract line 13 from line 8. Enter the result here
Schedule B (Form 1040 or 1040-SR), line 3 . . . . . . . . . . . . . . . . .

For Paperwork Reduction Act Notice, see your tax return instructions.

Cat. No. 10822S

married
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and on
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5
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8

×

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12
13

×

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14
Form 8815 (2019)

DRAFT AS OF
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Intentionally Left Blank
DO NOT FILE

Page 3

Form 8815 (2019)

General Instructions
Section references are to the Internal Revenue Code.

Future Developments
For the latest information about developments related to Form 8815 and
its instructions, such as legislation enacted after they were published,
go to www.irs.gov/Form8815.

Column (b). Enter the name and address of the institution. If the person
was enrolled at or attended more than one, list all of them. Also, if you
contributed to a Coverdell ESA for the person, enter “Coverdell ESA”
and the name and address of the financial institution where the account
is located. For contributions to a QTP, enter “QTP” and the name and
address of the program.

DRAFT AS OF
August 14, 2019
DO NOT FILE

Purpose of Form

If you cashed series EE or I U.S. savings bonds in 2019 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.

Who Can Take the Exclusion

You can take the exclusion if all four of the following apply.
1. You cashed qualified U.S. savings bonds in 2019 that were issued
after 1989.
2. You paid qualified higher education expenses in 2019 for yourself,
your spouse, or your dependents.
3. Your filing status is any status except married filing separately.
4. Your modified adjusted gross income (AGI) is less than: $96,100 if
single, head of household, or qualifying widow(er); $151,600 if married
filing jointly. See the instructions for line 9 to figure your modified AGI.

U.S. Savings Bonds That Qualify for Exclusion

To qualify for the exclusion, the bonds must be series EE or I U.S.
savings bonds issued after 1989 in your name, or, if you are married,
they may be issued in your name and your spouse’s name. Also, you
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.

Recordkeeping Requirements
Keep the following records to verify interest you exclude.
• Bills, receipts, canceled checks, or other documents showing you paid
qualified higher education expenses in 2019.
• A written record of each post-1989 series EE or I bond that you
cashed. Your record must include the serial number, issue date, face
value, and total redemption proceeds (principal and interest) of each
bond. You can use Form 8818, Optional Form To Record Redemption of
Series EE and I U.S. Savings Bonds Issued After 1989, as your written
record.

Specific Instructions
Line 1
Column (a). Enter the name of the person who was enrolled at or
attended an eligible educational institution or for whom you made
contributions to a Coverdell education savings account (Coverdell ESA)
or a qualified tuition program (QTP). This person must be you, your
spouse, or your dependent(s) claimed on Form 1040 or 1040-SR. An
eligible educational institution is generally any accredited public,
nonprofit, or private college, university, vocational school, or other
postsecondary institution. The institution must be eligible to participate
in the student aid programs administered by the Department of
Education. Virtually all accredited postsecondary institutions meet this
requirement.

Line 2

Qualified higher education expenses include tuition and fees required for
the enrollment or attendance of the person(s) listed on line 1, column (a),
at the institution(s) listed in column (b). They also include contributions
to a Coverdell ESA or a QTP for the person(s) listed on line 1. Qualified
expenses do not include expenses for:
• Room and board; or
• Courses involving sports, games, or hobbies that are not part of a
degree- or certificate-granting program.
Do not include on line 2 expenses that were:
• Covered by nontaxable educational benefits paid directly to, or by, the
educational institution;
• Used to figure an education credit on Form 8863; or
• Used to figure the nontaxable amount of a distribution from a
Coverdell ESA or QTP.

Line 3

Enter on this line the total qualified higher education expenses included
on line 2 that were covered by nontaxable educational benefits. These
benefits include the following.
• Scholarship or fellowship grants excludable from income under
section 117. See chapter 1 of Pub. 970 for more information.
• Veterans’ educational assistance benefits.
• Employer-provided educational assistance benefits that are not
included in box 1 of your Form(s) W-2.
• Payments, waivers, or reimbursements of educational expenses under
a QTP.
• Any other payments (but not gifts, bequests, or inheritances) for
educational expenses that are exempt from income tax by any U.S. law.
Do not include on line 3 nontaxable educational benefits paid directly
to, or by, the educational institution.
Example. You paid $10,000 of qualified higher education expenses
in 2019 to the college your son attended. None of the expenses are
used to figure an education credit or the nontaxable amount of a
Coverdell ESA or QTP. You claim your son as a dependent on your 2019
tax return. Your son received a $2,000 nontaxable scholarship grant for
2019, which was paid directly to him. In this case, enter $10,000 on line
2 and $2,000 on line 3.

Line 6
If you reported any of the interest before 2019, see Pub. 550 for the
amount to enter. Otherwise, enter the amount from Form 8818, line 8 (if
you used that form to record the bonds cashed), or use the following
worksheet to figure the amount to enter.

Line 6 Worksheet (keep a copy for your records)
1. Enter the amount from Form 8815, line 5 .

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1.

2. Enter the face value of all post-1989 paper series EE
bonds cashed in 2019
. . . . . . . .

2.

3. Multiply line 2 by 50% (0.50) .

3.

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4. Enter the face value of all electronic series EE bonds
(including post-1989 series EE bonds converted from paper
to electronic format) and all series I bonds cashed in 2019 .

4.

5. Add lines 3 and 4 .

5.

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6. Subtract line 5 from line 1. Enter the result here and on
Form 8815, line 6 . . . . . . . . . .

6.

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Form 8815 (2019)

Line 9
Follow these steps before you fill in the Line 9 Worksheet below.

Step

Action

1

If you received social security benefits, use Pub. 915 to figure the
taxable amount of your benefits.

Line 9 Worksheet (keep a copy for your records)
1. Enter the amount from line 2 of Schedule B (Form 1040
or 1040-SR) . . . . . . . . . .

1.

2. Add the amounts from Form 1040 or 1040-SR, lines 1,
3b, 4b, 4d, 5b, and 6, and the amounts from Schedule
1 (Form 1040 or 1040-SR), lines 1 through 8. Enter the
total . . . . . . . . . . . .

2.

3. Add lines 1 and 2

3.

DRAFT AS OF
August 14, 2019
DO NOT FILE
2

If you are claiming both the premium tax credit (PTC) and
self-employed health insurance deduction, see Self-Employed
Health Insurance Deduction and PTC in Pub. 974, Premium Tax
Credit, and complete the appropriate worksheets.

3

If you made contributions to a traditional IRA for 2019 and you
were covered by a retirement plan at work or through selfemployment, use Pub. 590-A to figure your IRA deduction.

4

Figure any amount to be entered on the dotted line next to line
22 of Schedule 1 (Form 1040 or 1040-SR).

5

Complete the following lines on your Form 1040 or 1040-SR and
Schedule 1 (Form 1040 or 1040-SR) if they apply.

6

IF you use . . .

THEN complete lines . . .

Form 1040 or 1040-SR

2a, 3b–5b, and 6

Schedule 1 (Form 1040 or
1040-SR)

1–8, and 10*–19

If any of the following apply, see Pub. 550.
• You are filing Form 2555 (relating to foreign earned income) or
Form 4563 (exclusion of income for residents of American
Samoa).
• You have employer-provided adoption benefits for 2019.
• You are excluding income from Puerto Rico.

• You have investment interest expense attributable to royalty
income.
* For purposes of figuring the amount to put on Form 8815, line 9, do not
reduce your educator expenses, if any, by the amount on Form 8815, line 14.

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4. Add the amounts from Schedule 1 (Form 1040 or
1040-SR), lines 10 through 19, plus any amount
entered on the dotted line next to line 22. Enter the
total . . . . . . . . . . . .

4.

5. Subtract line 4 from line 3. Enter the result here and on
Form 8815, line 9 . . . . . . . . .

5.