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2020, Mr.walt & Mrs.walt redeem Series EE bonds and receive $14,000, consisting of $10,000 of principal and $4,000 of interest. Net qualifying educational expenses total
2020, Mr.walt & Mrs.walt redeem Series EE bonds and receive $14,000, consisting of $10,000 of principal and $4,000 of interest. Net qualifying educational expenses total $9,380. They are married filing jointly and have other AGI of $128,550. How much interest income must be included in the Wilson's income in 2020 because of the redemption of savings bonds? a. $4,000 b. $1,320 c. $1,876 d. $2,124 e. None is correct.
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