Bobby, a single taxpayer, buys a U.S. Savings Bond for $15,000 when he is 25 years old. He redeems it for $18,000 several years later and spends $12,000 of the proceeds on college tuition for his dependent child. Bobby's AG is $50,000. How much interest will he include in his gross income due to the redemption of the bond? Zero $1,000. $2,000. $3,000 QUESTION 5 Flona, a single taxpayer, buys a U.S. Savings bond when she is 25 years old for $10,000 and redeems it for $12,000 several years later and spends the entire $12,000 of college tuition for herself. How much interest income is she taxed on if her AGI is $85,350. Note: The applicable "phase-out"range runs from $82,350 to $97.350. Zero. $400. $1,600 $2,000. QUESTION 6 Ed and Edna are a married couple who file jointly in 2020. The only itemized deductions they could claim would be $8,000 taxes paid to NY State, and $3,500 donated to charity, so they do not itemize their deductions. Instead, they claim the standard deduction of $24,800 for married couples filing jointly. New York sent them a state tax refund of S750 in 2021. True or False: They must include the $750 refund in their 2021 gross income. True False