What are the Tax Breaks? - KTRE.com | Lufkin and Nacogdoches, Texas

What are the Tax Breaks?

  I was thinking about using I Bonds as part of my children's college fund.  Is the tax break the same for I Bonds as for Series EE Bonds?
  Yes.  If you qualify you can exclude all or part of the interest on I Bonds from income as long as the proceeds are used to pay for tuition and fees at eligible, post-secondary educational institutions. Details are available in IRS Publication 550, "Investment Income and Expenses”.  Contact you’re nearest Internal Revenue Service District Office to get this publication.

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