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A Contra Account Is an Account That Is Subtracted from a Related

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A contra account is an account that is subtracted from a related account.


Definitions:

Series I Savings Bonds

U.S. government savings bonds that earn interest based on a combination of a fixed rate and an inflation rate.

Qualified Higher Education Expenses

Expenses associated with attendance at a post-secondary educational institution, which may be eligible for tax benefits.

AGI

Adjusted Gross Income, which is an individual's total gross income minus specific deductions allowed by the IRS.

Series EE Bonds

Savings bonds issued by the U.S. government that pay interest until they reach maturity at 30 years.

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