I have several EE US Savings Bonds created in 1989 and 1991 in my name. They either are already, or will all fully mature by mid-2021. My kids are currently in college. Ideally, I wanted to use this:
cash in the bonds as tax-free for higher education expenses for my kids. Our married-filing-jointly AGI is within the limit. HOWEVER, I was 20 years old in 1991, and the IRS form rules say I was supposed to be minimum of 24 at the time of creating the bonds to be eligible for this tax savings.
Is there ANY other method to minimize federal taxes on these bonds?
- posted 2 weeks ago