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taxmap/pubs/p970-047.htm#TXMP58d2e143 Illustrated Example(p56)

The information is the same as in the above example for Mark and Joan Washington, except they have a modified adjusted gross income of $112,200. In this example, they can exclude $1,377 (line 14 of Form 8815 shown on the next page) of interest in 2007.

They must pay tax on the remaining $1,623 interest ($3,000 total interest minus $1,377 excluded interest).

taxmap/pubs/p970-047.htm#f25221V1001

taxmap/pubs/p970-047.htm#TXMP6f371e21

Form 8815 for Mark and Joan Washington  

Previous Page:  Publication 970 - Tax Benefits for Education - Claiming the Exclusion Next Page:  Publication 970 - Tax Benefits for Education - Employer-Provided Educational Assistance Use   to find additional occurrences of topic items.