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Question Content AreaOn January 2 , 2 0 2 4 , Tim purchased a bond paying interest at 6 % for $ 3 0 ,

Question Content AreaOn January

2, 2024,

Tim purchased a bond paying interest at

6 %

for $

30, 000 .

On March

31, 2024,

he gave the bond to Jane. The bond pays $

1, 800

interest on December

31 .

Tim and Jane are cash basis taxpayers. When Jane collects the interest in December

2024

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