A is in a 37% marginal tax bracket for 2023. If A redeems some U.S. savings bonds for $20,000 that originally cost $12,000, what dollar amount of interest income is included in gross income if the entire $20,000 is used to pay for his daughter's college tuition.

Answer rating: 100% (QA)

To calculate the interest income included in gross income when redeeming savings bonds we need to de... View the full answer