Marcy is a 17 year old high school student with income from wages of $8,000 and $2,800 of interest income from bonds given to her by her grandparents. How much of Marcie's income will be used to calculate the special Kiddie tax using the Estate/Trust income tax rate schedule?

Question options:

$10,800

$2,800

$600

some other amount

Which of the followingis nota general rule or restriction on exempt employer provided benefits?

Question options:

anti-discrimination rules

restrictions on the list of benefits that qualify for this exempt status

a requirement that all employees get the same dollar amount of any exempt benefit

All are requirements

Gloria cashed in $20,000 of Series EE US Savings Bonds and used all of the proceeds to pay qualified educational expenses for her daughter. Included in that amount was $2,500 of interest income. Gloria's modified AGI is $75,000. Which of the following is a correct statement regarding the excludability of interest income in this case?

Question options:

Gloria may exclude all of the savings bond interest in this case

Gloria may exclude part of the savings bond interest in this case

Gloria may not exclude the savings bond interest in this case

none of the above