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A husband is in the 52% tax bracket, and his partner is in the 29% tax bracket. The husband transfers $20,00 in bonds from his
A husband is in the 52% tax bracket, and his partner is in the 29% tax bracket. The husband transfers $20,00 in bonds from his holdings to his partner. After one year, these bonds have paid $1,600 in interest to the partner. Which of the following is true?
Either the husband or the partner can claim the interest and pay the tax.
The husband pays $832 in tax.
The partner pays $464 in tax.
The partner pays $832 in tax.
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