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Note that the tax-free educational expenses apply only to higher education and have an AGI cut-off, though. Read the fine print!
by piotrkaminski 4y ago
Note that the tax-free educational expenses apply only to higher education and have an AGI cut-off, though. Read the fine print!
- ericd 4y agoAh thanks for the clarification! Have a link to a good explanation of the limitations?
- piotrkaminski 4y agoI just poked around the Treasury site. It's a maze of little corridors all alike, but this one has some relevant info: https://www.treasurydirect.gov/indiv/planning/plan_education.htm https://www.treasurydirect.gov/indiv/planning/plan_education...
- ericd 4y agoHad a bit of a hard time finding the actual AGI limit, but I found it here: https://www.irs.gov/publications/p970 https://www.irs.gov/publications/p970 Unfortunately, not that high: You may be able to cash in qualified U.S. savings bonds without having to include in your income some or all of the interest earned on the bonds if you meet the following conditions. - You pay qualified education expenses for yourself, your spouse, or a dependent. - Your MAGI is less than $98,200 ($154,800 if married filing jointly). - Your filing status isn't married filing separately.