I-Bond question

[charlie]

If I bought I-bonds in my name and later used the proceeds for
a grandchild's education would the income be tax exempt?

I know you can't put the bonds in the child's name. The gov
web site says the parents of the child can get the tax exemption
if the bonds are in the name of the parents ..... but nothing is
said about the grandparents that I can find.

Thanks for your help and cheers,

Charlie

 

[wabmester]

Charlie, the deduction is only available for you or your dependents.

More info here:

http://www.irs.gov/publications/p970/ch10.html#d0e11102

 

[charlie]

Thanks, Wab.

Cheers,

Charlie