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Get Form 8818 (rev. September 1999), (fill-in ... - Uncle Fed's Tax*board
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How to fill out the Form 8818 (Rev. September 1999), (Fill-in ... - Uncle Fed's Tax*Board online
Filling out Form 8818 is a crucial step for individuals who have cashed series EE or I U.S. savings bonds issued after 1989 and wish to exclude interest from their income for qualified higher education expenses. This guide will provide clear, step-by-step instructions to help you navigate the form online effectively.
Follow the steps to complete Form 8818 accurately and efficiently.
- Press the ‘Get Form’ button to obtain the form and open it in your preferred editor.
- Enter your name in the designated field at the top of the form along with the date you cashed the bonds.
- In Part I, for each series I bond cashed, fill in the serial number and issue date in the respective columns (a) and (b). Then, enter the face value of the bonds in column (c).
- Calculate the total cost of the series I bonds cashed by adding the amounts in column (c) and record this figure.
- For series EE bonds, repeat the process in Part II by entering the appropriate details in columns (a), (b), and (c).
- Add the amounts from line 4 for series I bonds and line 5 for series EE bonds to find the total redemption proceeds and interest in Part III.
- Complete the calculation of total interest by subtracting the total cost from total redemption proceeds.
- Once all fields are accurately filled and calculations completed, you can save changes, download, print, or share the form as needed.
Start completing your Form 8818 online today to ensure you make the most of your tax benefits!
The Education Tax Exclusion The IRS lets you avoid paying taxes on interest earned by Series EE and Series I savings bonds when you redeem them if you use the money toward qualified higher education costs for yourself, your spouse, or any of your dependents.
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