Leigh Inherited $65,000 of City of New York Bonds in January

question 134

Essay

Leigh inherited $65,000 of City of New York bonds in January 2015.In March 2015,she received $4,000 of interest on the bonds.In July 2015,she sold the bonds at a $10,000 gain.Leigh also redeemed Series E U.S.Savings bonds in October 2015 that she had purchased several years ago and received accumulated interest of $2,600.In December 2015,she received $800 of interest on City of Paris,France,bonds.What amount,if any of gross income must Leigh report?

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Definitions:

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