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Form 8815 Indianapolis Indiana: What You Should Know

If you are claiming the exclusion of interest from Series EE and Series I U.S. Savings Bonds, your net income on those bonds is excluded from your gross income until the bonds are placed in service. You can use the Form 8949 to report any interest exclusion related with the interest on Series EE and Series I savings bonds, but you must file the return of tax using Form 8855. Report the interest income you exclude for the year and the date on which you begin withdrawing a savings bond on Form 8949. Series I Savings Bonds If you hold Series I savings bonds and withdraw them, the interest from those bonds is taxable to you.

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