Starting in 2004, Sergio and Jasmine have been purchasing Series EE bonds in their name to...
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Starting in 2004, Sergio and Jasmine have been purchasing Series EE bonds in their name to use for the higher education of their son, Devon, who currently is age 20. In 2020, they cash in $24,000 of the bonds to use for tuition, fees, and room and board. Of this amount, $10,000 represents interest. Of the $24,000, $19,200 is used for tuition and fees, and $4,800 is used for room and board. Sergio and Jasmine's AGI, before the educational savings bond exclusion, is $133,250. If an amount is zero, enter "0". a. If Sergio and Jasmine file a joint, how much is the savings bond exclusion? Round any division to three decimal places and use rounded amount in subsequent computations. If required, round your final answer to the nearest dollar. 8,000 x Starting in 2004, Sergio and Jasmine have been purchasing Series EE bonds in their name to use for the higher education of their son, Devon, who currently is age 20. In 2020, they cash in $24,000 of the bonds to use for tuition, fees, and room and board. Of this amount, $10,000 represents interest. Of the $24,000, $19,200 is used for tuition and fees, and $4,800 is used for room and board. Sergio and Jasmine's AGI, before the educational savings bond exclusion, is $133,250. If an amount is zero, enter "0". a. If Sergio and Jasmine file a joint, how much is the savings bond exclusion? Round any division to three decimal places and use rounded amount in subsequent computations. If required, round your final answer to the nearest dollar. 8,000 x
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Problem 553 a a 5413 is the saving bond exclusion which will allowed to sergio and jesmin 1The educa... View the full answer
Related Book For
South Western Federal Taxation 2015
ISBN: 9781305310810
38th edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
Posted Date:
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