Problem $5-64($LO $5-3)($Static$)$

Skip to question

$[$The following information applies to the questions displayed below.$]$

Cecil cashed in a Series EE savings bond with a redemption value of $$14,000$ and an original cost of $$9,800.$

For each of the following independent scenarios, calculate the amount of interest Cecil will include in his gross income assuming he files as a single taxpayer:

Note: Leave no answer blank. Enter zero if applicable.

Problem $5-64$ Part b $($Static$)$

b$.$ Assume the same facts in part $($a$),$ except Cecil plans to spend $$4,200$ of the proceeds to pay his son's tuition at State University, and Cecil estimates his modified adjusted gross income at $$60,600.$