LO.2 In 2012, Sandra, a cash basis taxpayer, purchased a certificate of deposit for $943 that will
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LO.2 In 2012, Sandra, a cash basis taxpayer, purchased a certificate of deposit for $943 that will be redeemed in 2014 for $1,000. Is Sandra required to recognize any income from the certificate in 2012 and 2013? Explain.
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Related Book For 
South Western Federal Taxation 2013 Individual Income Taxes
ISBN: 9781133189558
36th Edition
Authors: William Hoffman, James E. Smith
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