Lou bought a $10,000 bond for 9,500. The bond will mature in 10 years , and lou intends to hold it until maturity . The bond pays 5% interest annually on the face value , and lou receives an annual check for $500 in taxable interest payments. what amount of interest will be taxable annually and with tax documents should lou receive?

Answer rating: 100% (QA)

a550 500 reported on form 1099int and 50 reported on form 1099... View the full answer