Several years ago joyce bought series ee savings bonds with

Reference no: EM13590340

Several years ago, Joyce bought series EE Savings Bonds with a cost of $20,000. The bonds are now worth $60,000. Joyce cashed in $30,000 worth of bonds (i.e., half the bonds) to pay for her son's first year in college. The $30,000 proceeds were used as follows-$22,500 tuition & books; $7,500 room & board. Before considering the $20,000 interest income from these bonds, Joyce's AGI on her head of household return was $59,200. How much, if any, of the interest income must be included in her gross income?

Reference no: EM13590340

Questions Cloud

Eplain carefully why the futures price of gold can be : explain carefully why the futures price of gold can be calculated from the spot price and other observable variables

Mink manufacturing is unsure of whether to sell its product : mink manufacturing is unsure of whether to sell its product assembled or unassembled. the unit cost of the unassembled

Westmore reported sales of lt 1500000 during 2011 what : westmore ltd. is a british subsidiary of a u.s. company. westmores functional currency is the pound sterling lt .the

You cause a particle to move from point a where the : question you cause a particle to move from point a where the electric potential is 17.7 v to point b where the electric

Several years ago joyce bought series ee savings bonds with : several years ago joyce bought series ee savings bonds with a cost of 20000. the bonds are now worth 60000. joyce

Suppose that you enter into a 6-month forward contract on a : suppose that you enter into a 6-month forward contract on a nondividend-paying stock when the stock price is 30 and

Assuming a forward contract was not entered into what would : car corp. a u.s. based company sold parts to a korean customer on december 162011 with payment of 10 million korean won

In a year that leonard had agi of 100000 he donated 250000 : in a year that leonard had agi of 100000 he donated 250000 worth of stock to indiana university where he earned his

What type of internal controls might be useful for this : anton blair is the manager of a medium-size company. a few years ago blair persuaded the owner to base a part of his

User Account

All Pages