Get the up-to-date Form 8815 - Exclusion of Interest from Series EE andForm 8815 - Exclusion of Interest from Series EE andEE bondsTreasuryDirect2020 Form 8815 - IRS tax forms-2025 now

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Your EE and I savings bonds earn interest from the first month you own them. You get the interest all at once. For a paper bond, this happens when you cash the bond. For an electronic bond, it happens either when you cash the bond or when the bond finishes its 30-year life (it matures).
The Bottom Line. The interest you earn on EE savings bonds is subject to federal income, gift, estate, and excise taxes but is exempt from state and local income taxes. The taxation depends on who owns the bond, even if the ownership is split amongst individuals.
If you cashed series EE or I U.S. savings bonds this year that were issued after 1989, you may be able to exclude from your income part or all of the interest on those bonds. Use Form 8815 to figure the amount of any interest you may exclude.
Its reasonable to sell some or all of your EE bonds as they have doubled in value after reaching initial maturity. Your bonds will start to reach final maturity in 2023 at which point a bond will stop accruing interest and the interest should be reported on your Federal tax return (bonds are state and local tax-free).
The exclusion is subject to income limitations: Your modified adjusted gross income (AGI) is less than $111,800 if single, head of household, or qualifying surviving spouse. Your modified adjusted gross income (AGI) is less than $175,200 if married filing jointly.
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People also ask

Maturity dates for Series EE bonds Although they technically mature after 20 years, these bonds actually dont expire for 30 years. Youll keep earning interest for an extra decade. As long as you cash in your bond at the maturity date, you can guarantee your investment will double.

series ee bonds value