Page 37 - Interest Income - Individuals Handbook

 If you want to change your method of reporting the
interest from method 1 to method 2, you can do so without
permission from the IRS.

 In the year of change, you must report all interest accrued
to date and not previously reported for all your bonds.
Once you choose to report the interest each year, you must
continue to do so for all Series EE, Series E, and Series I
bonds you own and for any you get later, unless you
request permission to change, as explained next.

3

/!\ If you plan to cash your bonds in the same
year you will pay for higher education

expenses, you may want to use method 1

because you may be able to exclude the

interest from your income. /!\

Change from Method 1