qualifying education expenses for I bonds?

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Subject Author Date qualifying education expenses for I bonds? joeNOSPAM@bea.com 08-22-2007  Re: qualifying education expenses for I bonds? Dave Dodson 08-22-2007  Re: qualifying education expenses for I bonds? joeNOSPAM@bea.c... 08-22-2007
Posted by joeNOSPAM@bea.com on August 22, 2007, 5:08 am Hi all. What qualifies as an educational expense for I bond use? I have sold some older I bonds and my daughter is starting college. I assume the basic tuition qualifies, but can I include the school's room and board, books etc? Do the expenses need to have been incurred this year (same year as bond sales) or can they be up to next April 15th? thanks for your expertise, Joe Weinstein Posted by Dave Dodson on August 22, 2007, 7:24 am wrote: > What qualifies as an educational expense for I bond use? According to IRS Publication 970: Qualified education expenses. These include the following items you pay for either yourself, your spouse, or a dependent for whom you claim an exemption. 1. Tuition and fees required to enroll at or attend an eligible educational institution. Qualified education expenses do not include expenses for room and board or for courses involving sports, games, or hobbies that are not part of a degree or certificate granting program. 2. Contributions to a qualified tuition program (QTP) What's New (see chapter 8). 3. Contributions to a Coverdell education savings account (ESA) (see chapter 7). ---- In particular, room and board are not qualified education expenses, and I don't find any mention of books. You should read pages 55-57 of the above publication, http://www.irs.gov/pub/irs-pdf/p970.pdf, and take a look at Form 8815, http://www.irs.gov/pub/irs-pdf/f8815.pdf, for exceptions, exclusions, and an example. Dave Posted by joeNOSPAM@bea.com on August 22, 2007, 12:46 pm > wrote: > > > What qualifies as an educational expense for I bond use? > > According to IRS Publication 970: > > Qualified education expenses. These include the following items you > pay for either yourself, your spouse, or > a dependent for whom you claim an exemption. > > 1. Tuition and fees required to enroll at or attend an eligible > educational institution. Qualified education > expenses do not include expenses for room and board or for courses > involving sports, games, or hobbies that are not part of a degree or > certificate granting program. > > 2. Contributions to a qualified tuition program (QTP) What's New (see > chapter 8). > > 3. Contributions to a Coverdell education savings account (ESA) (see > chapter 7). > > ---- > In particular, room and board are not qualified education expenses, > and I don't find any mention of books. > > You should read pages 55-57 of the above publication,http://www.irs.gov/pub/irs-pdf/p970.pdf, and take a look at Form 8815,http://www.irs.gov/pub/irs-pdf/f8815.pdf, for exceptions, exclusions, > and an example. > > Dave thank you very much! Similar Threads Posted Do "total returns" include fund operating expenses? May 11, 2007, 4:57 am 529 Education plan February 14, 2007, 4:59 am 529 Education Savings Plan May 22, 2008, 5:05 am Mandatory Personal Finance Education November 15, 2007, 5:12 am Why bonds? March 16, 2007, 8:40 am EE Bonds November 6, 2007, 8:50 pm Bonds February 28, 2008, 9:25 am Bonds vs CDs November 3, 2008, 8:52 pm Understanding Bonds September 25, 2006, 4:59 am Re: Zero Coupon Bonds September 26, 2006, 4:46 pm