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February 2, 2021
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Form 8815 Savings Bond interest exclusion for has incorrect amount for married filing jointly, line10

  • February 2, 2021
  • 1 reply
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I am trying to report a US Savings Bond redemption Rollover into a 529 Plan.

Line 10 instructions on Form 8815 for tax year 2020 indicates that the income phase out level for married filing jointly is $123500 . Turbotax is using $121600 for the income level. I recall that was the level for tax year 2019? I think the software has at one error on this form? Its looks like the program needs to be updated to use the income limit for the current tax year 2020.

    Best answer by PattiF

    Yes, you are correct that last years figures on on the form Form 8815 is not yet available as it hasn't been released by the IRS.

     

    Here is the list of the expected dates when various forms will be available. Form 8815 is near the bottom  IRS Forms Availability.

    1 reply

    P
    PattiFAnswer
    February 3, 2021

    Yes, you are correct that last years figures on on the form Form 8815 is not yet available as it hasn't been released by the IRS.

     

    Here is the list of the expected dates when various forms will be available. Form 8815 is near the bottom  IRS Forms Availability.

    **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
      T
      TopMenAuthor
      February 4, 2021

      Thank you for the information on release dates for forms. I didn't know that some forms aren't always ready if you start your tax prep early.

      P
      PattiF
      February 4, 2021

      You are welcome.

      **Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
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