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Discussion in 'Credit Talk' started by fingrrrl, Oct 30, 2001.
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1) ABOUT THE EDUCATION TAX EXCLUSION
1.1) What is the Education Tax Exclusion?
The savings bond education tax exclusion permits qualified taxpayers to exclude from their gross income all or
a portion of the interest earned on the redemption of eligible Series EE and I Bonds issued after 1989 in the
name of a taxpayer age 24 or older at the date of issuance. To qualify for this exclusion, tuition and other
educational expenses must be incurred by the taxpayer, the taxpayer's spouse, or the taxpayer's dependent at
certain post-secondary educational institutions. Persons with incomes above certain thresholds may not be
eligible to participate. The education tax exclusion is described in 26 U.S.C. 135.
I HOPE THIS HELPS...IT IS A "HARD" READ...
...OOPS, almost forgot...fee 2 F.I.C.O. points...
But you know what? The bonds were issued before 1989 and I'm only 23 years old. I am SO SICK of all this f-ing government bullsh*t! They want me to go broke, I swear to god! But thanks for the (bad) news anyway.
Maybe I cut and pasted the WORNG STUFF...I will look for 800# for you...
MAYBE TALK TO A REAL PERSON?
We want you to better understand our products. If you have a general question about savings bonds, interest rates, rules and regulations, the Savings Bond Wizard or anything else, e-mail SavBonds@bpd.treas.gov or visit the Savings Bond home page.
Couldn't find a phone # for problems...
Thanks again George.