John, who is single, paid educational expenses of $16,000 in 2021. In 2021, he redeemed Series EE bonds and received principal of $8,000 and interest of $3,000 which he used to pay for the educational expenses. John has other adjusted gross income of $86,200 (not including the bond interest). With respect to the $3,000 of bond interest, how much will John include in taxable income in 2021? (Remove any symbols or units from your answer; do not use a $ dollar sign for your answer).
John, who is single, paid educational expenses of $16,000 in 2021. In 2021, he redeemed Series EE bonds and received principal of $8,000 and interest of $3,000 which he used to pay for the educational expenses. John has other adjusted gross income of $86,200 (not including the bond interest). With respect to the $3,000 of bond interest, how much will John include in taxable income in 2021? (Remove any symbols or units from your answer; do not use a $ dollar sign for your answer).
Chapter12: Alternative Minimum Tax
Section: Chapter Questions
Problem 24CE
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Transcribed Image Text:John, who is single, paid educational
expenses of $16,000 in 2021. In 2021, he
redeemed Series EE bonds and received
principal of $8,000 and interest of $3,000
which he used to pay for the educational
expenses. John has other adjusted gross
income of $86,200 (not including the bond
interest). With respect to the $3,000 of bond
interest, how much will John include in
taxable income in 2021?
(Remove any symbols or units from your
answer; do not use a Ș dollar sign for your
answer).
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