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A taxpayer is reporting $1,789 of taxable interest for the year. Which of the following statements best reflects the treatment of this income? Select one:
A taxpayer is reporting $1,789 of taxable interest for the year. Which of the following statements best reflects the treatment of this income? Select one: a. The interest would be a simple line entry on the "Taxable Interest" section of the Form 1040. b. The Interest is included in wages once it exceeds $1,500. c. The taxpayer would report the interest on a Schedule B. d. The taxpayer would only need to report the interest in the case that the amount received exceeded basis
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