Ward and June Are in the 28% Tax Bracket

question 99

Multiple Choice

Ward and June are in the 28% tax bracket.Included in their assets is a Dell Corporation bond with a face value of $10,000.The bond pays $1,000 per year in interest.Ward and June gift the bond to their son,Wally (age 19) ,on January 1,2013.Wally is in the 10% tax bracket.Wally's taxable income from the receipt of the bond and the bond interest in 2013 is

• A)$ -0-
• B)$ 1,000
• C)$ 1,500
• D)$10,000
• E)$11,000

---

Definitions:

Organizational Control

The dynamic communication process through which different organizational interest groups struggle to maximize their stake in an organization.

Communicative Element

A component or feature that facilitates communication, such as a symbol, sign, or medium.

Passing

The ability of an individual to be regarded as a member of an identity group or category different from their own, often used within the contexts of gender, race, or social status.

Disclosure

The action of making new or secret information known.