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During 2021, Albert redeems Series EE savings bonds for $6,000 - - consisting of $2,000 interest and $4,000 principal. Albert has net qualifying education expenses
During 2021, Albert redeems Series EE savings bonds for $6,000 - - consisting of $2,000 interest and $4,000 principal. Albert has net qualifying education expenses of $5,000 in 2021. Albert, a single individual, reports adjusted gross income (without the savings bond interest) of $20,000. How much may Albert exclude on his 2021 Form 1040?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
