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Required information [The following information applies to the questions displayed below.] Cecil cashed in a Series EE savings bond with a redemption value of $19,000
Required information [The following information applies to the questions displayed below.] Cecil cashed in a Series EE savings bond with a redemption value of $19,000 and an original cost of $13,300. For each of the following independent scenarios, calculate the amount of interest Cecil will include in his gross income assuming he files as a single taxpayer: Note: Leave no answer blank. Enter zero if applicable. . Cecil plans to spend all of the proceeds to pay his son's tuition at State University. Cecil's son is a full-time student, and Cecil claims is son as a dependent. Cecil estimates his modified adjusted gross income at $68,100. b. Assume the same facts in part (a), except Cecil plans to spend $5,700 of the proceeds to pay his son's tuition at State University, and Cecil estimates his modified adjusted gross income at $63,900
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