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The cut-off amount may change each year. You can find the current cut-off amount on IRS Form 8815. You cash the qualifying savings bonds in the same tax year for which you are claiming the exclusion. You paid qualified higher education expenses to an eligible institution that same tax year.
You can get your cash for an EE or I savings bond any time after you have owned it for 1 year. However, the longer you hold the bond, the more it earns for you (for up to 30 years for an EE or I bond).
5 gru 2023 · To cash in series EE savings bonds, you'll need to wait at least 1 year after you purchased the bond or received it as a gift. However, you might want to wait 5 years to cash in your bond since you'll lose the last 3 months of interest if you cash it in before then.
8 maj 2024 · You cashed Series I or Series EE bonds issued after 1989 in your name in the same tax year that you’re claiming the exclusion. You paid qualified educational expenses in that same tax...
18 lis 2020 · You can transfer eligible EE and Series I bonds to a 529 account or ESA with no penalty. (In essence, you cash in the savings bonds and "reinvest" them in the ESA or 529 account.) You may deduct the interest earned on the bond(s) from your gross income for the tax year you completed the transfer.
17 sie 2023 · Instead of spending the proceeds of a savings bond redemption on qualified higher education expenses, the taxpayer can rollover the funds to a 529 college savings plan, prepaid tuition plan or Coverdell education savings account.
17 sty 2022 · You can give your children either Series EE or I Bonds to help them save for college. When it's time to redeem the bonds to pay for college, you can either cash them in or roll them into a 529 plan (see below).
