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- Form 8815
Form 8815
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Marsha2020
Level 4
04-05-2024
02:05 PM
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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.
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2 Comments 2
Just-Lisa-Now-
Level 15
04-05-2024
02:36 PM
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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
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Agree with Lisa. here are form and instructions. https://www.irs.gov/pub/irs-pdf/f8815.pdf
