Get Irs 8815 2021-2026

Filling out the IRS 8815 can be straightforward when you understand each component and the required information. This guide provides clear, step-by-step instructions for completing the form online, ensuring you can accurately report any exclusion of interest from U.S. savings bonds used for qualified higher education expenses.

Follow the steps to accurately complete the IRS 8815 online.

1. Click 'Get Form' button to obtain the form and open it in the editor.
2. Enter your social security number and the names shown on your return in the designated fields at the top of the form.
3. In line 1, column (a), input the name of the person who attended an eligible educational institution. In column (b), provide the name and address of the institution.
4. Enter the total qualified higher education expenses paid in 2021 for the person listed in line 1, column (a) on line 2.
5. On line 3, report any nontaxable educational benefits received for the same individual in 2021.
6. For line 4, input the total proceeds from all series EE and I U.S. savings bonds cashed during 2021.
7. On line 5, enter the interest included on the bonds you cashed.
8. Calculate the ratio for line 6 based on the totals from lines 4 and 5, entering the result as a decimal.
9. Multiply the result from line 6 by the amount entered on line 8 and record it on line 8.
10. Provide your modified adjusted gross income on line 9, and check if it meets the income thresholds for the exclusion.
11. Follow the specific instructions for lines 10 through 13, ensuring you accurately compute your excludable savings bond interest.
12. Lastly, review the entire form for accuracy before saving, downloading, printing, or sharing the completed form.

Complete your IRS 8815 form online today to ensure you maximize your potential exclusions.