The Amount of Interest Income a Taxpayer Recognizes When He

question 30

Multiple Choice

The amount of interest income a taxpayer recognizes when he redeems a U.S. savings bond is:

• A)the excess of the taxpayer's basis in the bonds over the bond proceeds.
• B)the bond proceeds.
• C)the excess of the bond proceeds over the taxpayer's basis in the bonds.
• D)the taxpayer's basis in the bonds.
• E)None of the choices are correct.

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