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M
merrittarnold
July 4, 2020
Question

Freshmen college child, given savings bonds in my husband's name at birth. Used 2 in 2019 to pay his college tuition. Deductible interest or not?

  • July 4, 2020
  • 1 reply
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1 reply

Hal_Al
Hal_Al
Employee
July 4, 2020

What does "given savings bonds in my husband's name at birth" mean.  If you son is co-owner, they are not eligible.  If he is only  beneficiary, then the bonds are eligible.  See https://www.finaid.org/savings/bonds.phtml#:~:text=The%20Education%20Bond%20Program%20makes,HH%20bonds%20are%20not%20eligible.

 

Note in particular, that the bonds can be rolled over to a 529 plan, making room & board eligible expenses.

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