Form 8815 Exclusion of Interest From Series E.E. and I. U.S. Savings
Bonds Issued After 1989 2010
Summary: This is an example of Form 8815 (2010) as pertains to
the description in the text. The line items completed are:
-
Name(s) shown on return
field contains Mark & Joan Washington -
Your social security number
field contains 000-00-4567 -
1a. Name of person (you, your spouse, or your dependent) who
was enrolled at or attended an eligible educational institution
field contains Anna Washington -
1b. Name and address of eligible educational institution
field contains -
- Jamestown University
- Normal, Virginia 20100
-
2. Enter the total qualified higher education expenses you paid
in 2010 for the person(s) listed in column (a) of line 1. See the instructions
to find out which expenses qualify
field contains 7,650 -
3. Enter the total of any nontaxable educational benefits (such
as nontaxable scholarship or fellowship grants) received for 2008 for the
person(s) listed in column (a) of line 1 (see instructions)
field contains 0 -
4. Subtract line 3 from line 2. If zero or less, stop. You cannot
take the exclusion
field contains 7,650 -
5. Enter the total proceeds (principal and interest) from all
series EE and I U.S. savings bonds issued after 1989 that you cashed during 2010
field contains 9,000 -
6. Enter the interest included on line 5 (see instructions)
field contains 3,000 -
7. 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)
field contains .850 -
8. Multiply line 6 by line 7
field contains 2,550 -
9. Enter your modified adjusted gross income (see instructions)
field contains 118,900 -
10. Enter: $70,100 if single or head of household; $105,100
if married filing jointly or qualifying widow(er)
field contains 105,100 -
11. Subtract line 10 from line 9. If zero or less, skip line
12, enter 0 on line 13, and go to line 14
field contains 13,800 -
12. Divide line 11 by: $15,000 if single or head of household;
$30,000 if married filing jointly or qualifying widow(er). Enter the result as a
decimal (rounded to at least three places)
field contains .460 -
13. Multiply line 8 by line 12
field contains 1,173 -
14. Excludable savings bond interest. Subtract line 13 from
line 8. Enter the result here and on Schedule B (Form 1040A or Form 1040), line
3
field contains 1,377
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