Get 1999 Form 8815. Exclusion Of Interest From Series Ee U.s. Savings Bonds Issued After 1989

This guide provides step-by-step instructions for completing the 1999 Form 8815, which is used to exclude interest from series EE U.S. savings bonds for qualified higher education expenses. Following these instructions will help ensure that you accurately report your eligibility for the exclusion.

Follow the steps to effectively complete the form.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. In line 1(a), enter the name of the person who attended an eligible educational institution. This could be you, your partner, or a dependent. In line 1(b), provide the name and address of the educational institution they attended.
3. On line 2, enter the total qualified higher education expenses you paid in 1999 for the individual listed in line 1(a). Ensure these expenses qualify as outlined in the instructions.
4. Record on line 3 any nontaxable educational benefits received in 1999 for the individual listed in line 1(a). This may include scholarships or other exempt payments.
5. Calculate and enter the difference between line 2 and line 3 on line 4. If this amount is zero or below, you cannot claim the exclusion.
6. On line 5, report the total proceeds from all series EE and I U.S. savings bonds you cashed in during 1999.
7. For line 6, enter the interest included on line 5 based on your records or the guidance provided.
8. In line 7, divide the amount from line 4 by the amount on line 5. If line 4 is equal to or exceeds line 5, enter '1.000' instead.
9. Multiply the result in line 8 by the amounts provided on line 9 to calculate your modified adjusted gross income. If this income exceeds the specified thresholds, you cannot claim the exclusion.
10. Line 12 involves additional calculations based on the results provided from lines above. Make sure you record this accurately.
11. Finally, in line 14, subtract any necessary line amounts to determine your excludable savings bond interest. Report this amount accordingly.
12. Once you have completed the form, save your changes, download it for your records, and consider printing a hard copy to retain. You can also share the form if required.

Complete the 1999 Form 8815 online to benefit from the exclusion available on your qualified higher education expenses.