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17. In December of this year, Aki and Belma, a married couple, redeemed qualified Series EE U.S. Savings Bonds. The proceeds were used to help
17. In December of this year, Aki and Belma, a married couple, redeemed qualified Series EE U.S. Savings Bonds. The proceeds were used to help pay for their son's college tuition. Aki and Belma received proceeds of $10,000 representing principal of $7,500 and interest of $2,500. The qualified higher educational expenses they paid this year totaled $6,000. Their AGI from other sources of income is $130,300. What is the amount of interest income Aki and Belma can exclude from their income this year? A) $800 B) $1,500 C) $2,000 D) $2,500
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