Form 8815 is specifically used for what tax-related purpose?

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Form 8815 is utilized specifically to exclude interest from certain U.S. savings bonds for qualifying taxpayers, particularly those with adjusted gross income below designated thresholds. The form allows individuals, often parents or guardians, to exclude a portion or all of the interest earned on these savings bonds from their taxable income. This tax benefit is typically aimed at funding higher education for the taxpayer or their dependents, making it an essential tool for educational savings strategies.

Other options revolve around different tax-related purposes but do not pertain to Form 8815. The exclusion of interest on U.S. savings bonds is a unique provision aimed at supporting education, which directly aligns with the intent and purpose of this specific form.

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