College bonds: a taxing Catch-22
Source: bankrate.com Posted By: Jason B...5367 days ago
I have a daughter in college and have Series EE bonds that were supposed to be tax deductible if she uses them for college. She will be a junior in the fall and needs money for tuition. The bonds are in my name. She is now 22. How do I cash the bonds and avoid having to pay for the interest if the money is going to her college education but I cannot use her as a deduction? She files her own returns now. Help.