Question
Jacob, who is single, paid educational expenses of $16,000 in 2021. He redeemed Series EE bonds and received a principal of $8,000 and interest of
Jacob, who is single, paid educational expenses of $16,000 in 2021. He redeemed Series EE bonds and received a principal of $8,000 and interest of $3,000. Jacob has other adjusted gross income of $87,200. The $3,000 exclusion must be reduced by
A) $0. B) $1,400. C) $1,600. D) $3,000.
Explain your answer:
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Financial Accounting Reporting And Analysis
Authors: Jennifer Maynard
2nd Edition
0198745311, 9780198745310
