Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- Form 8815
Form 8815
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Marsha2020
Level 4
04-05-2024
02:05 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Need assurance that this is correct. Client has $31K in series EE savings bond that was cashed in 2023. She put the funds in a college fund in her name. She's not expecting to pay tax on this interest, but doing the 8815, her modified adi is $109K. Directions say if single, magi has to be below $106,850. Client upset because the $31K is being used in magi. Am I right or am I doing something wrong. Thanks.
Labels
2 Comments 2
Just-Lisa-Now-
Level 15
04-05-2024
02:36 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
As far as I know, savings bond interest IS included in MAGI.
Did you find conflicting information somewhere in your research of the situation?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Terry53029
Level 14
04-05-2024
02:54 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Agree with Lisa. here are form and instructions. https://www.irs.gov/pub/irs-pdf/f8815.pdf
