On Aug 22, 4:08 am, "joeNOS...@bea.com" <joe.weinst...@gmail.com
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
.
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
