Do I qualify to exclude Series EE or I Bond interest?

You can exclude Series EE or I Bond interest if all the following apply:

• You cashed qualified U.S savings bonds in 2025 that were issued after 1989.
• You paid qualified higher education expenses (or made education savings plan contributions) in 2025 for yourself, your spouse, or your dependents.
• Your filing status is any status except Married Filing Separately.
• Your Modified Adjusted Gross Income (MAGI) is less than: $114,500 if Single, Head of Household, or Qualifying Surviving Spouse; or $179,250 if Married Filing Jointly.
• You were age 24 or older before the bonds were issued.

A bond bought by a parent and issued in the name of his or her child under age 24 doesn't qualify for the exclusion by the parent or child.

The IRS also requires you to keep the following records if you exclude interest:

• Bills, receipts, canceled checks, or other documents showing you paid qualified higher education expenses in 2025.
• A written record of each post-1989 series EE or I bond that you cashed. Your record must include the serial number, issue date, face value, and total redemption proceeds (principal and interest) of each bond. You can use Form 8818  as your written record.

We don't support the recalculation of interest expense due to royalties for Form 8815 MAGI.