Maureens qualified higher education expenses are $7,000. Maureens redemption proceeds from qualified savings bonds during the taxable
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Question:
Maureen’s qualified higher education expenses are $7,000. Maureen’s redemption proceeds from qualified savings bonds during the taxable year of 2020 are $10,000 (principal of $8,000 and interest of $2,000). How much of the interest (if any) should Maureen include in her gross income in 2020?
Group of answer choices
$400
$1,400
$0
$600
Related Book For
Income Tax Fundamentals 2015
ISBN: 9781305177772
33rd Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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