Form 8815 is used to figure the amount of interest on Series EE savings bonds that you may exclude from your income. Before using the form, please use Form 8818 to enter information about the bonds you cashed.
You may only exclude this interest income if you meet a number of conditions. First of all, you must have paid qualified higher education expenses (typically, college tuition) during the tax year 2010 for you, your spouse, or your dependents. Next, if you are married, you must file jointly to qualify. Next, you must have purchased the bond after 1989 and have been at least 24 years old at the time of purchase. Finally, you are disqualified if your income exceeds certain levels.
We calculate this amount as the total of all lines 6 from all copies of Form 8818.
We calculate this amount as the total of all lines 8 from all copies of Form 8818.
We calculate modified adjusted gross income on line 9 according to the IRS instructions to Form 8815.