Since my daughter was born, we've been accumulating lots of bonds with a variety of owners, co-owners and beneficiaries. Some were gifts, some from bond programs at work, etc. Some are owned by either my wife or I or both, or by my daughter and my wife, or by my daughter and me. I would like to use them to pay her college room and board expenses. We don't qualify for form 8815 tax exclusions. What is the best way to use these bonds? Because she is in a much lower tax bracket, can we cash in anything with her name on them paying the money to her, thereby paying less tax? Also, I'd like to cash in enough bonds to cover and pay the taxes that I would owe "on the spot." Assuming that I'm financially ignorant enough not to be investing this tax money in some other way, is this a terrible idea? Thanks in advance,
Wayne