proceeds Ben decided to purchase Series EE government savings bonds in order to help defray his tuition costs. Ben's redemption from Series EE savings bonds during the taxable year 2022 are $10,000, including the principal amount of $8,500 and interest of $1,500. Ben's actual qualified higher education expenses amounted to $9,000. Ben's adjusted gross income prior to the foreign earned income exclusion and the educational savings bond exclusion for 2022 is $88,500. How much should Ben include in his gross income for 2022?
proceeds Ben decided to purchase Series EE government savings bonds in order to help defray his tuition costs. Ben's redemption from Series EE savings bonds during the taxable year 2022 are $10,000, including the principal amount of $8,500 and interest of $1,500. Ben's actual qualified higher education expenses amounted to $9,000. Ben's adjusted gross income prior to the foreign earned income exclusion and the educational savings bond exclusion for 2022 is $88,500. How much should Ben include in his gross income for 2022?
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 21CE
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Question
23.
Transcribed Image Text:Ben decided to purchase Series
EE government savings bonds in
order to help defray his tuition
costs. Ben's redemption proceeds
from Series EE savings bonds
during the taxable year 2022 are
$10,000, including the principal
amount of $8,500 and interest of
$1,500. Ben's actual qualified
higher education expenses
amounted to $9,000. Ben's
adjusted gross income prior to the
foreign earned income exclusion
and the educational savings bond
exclusion for 2022 is $88,500.
How much should Ben include in
his gross income for 2022?
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ISBN:
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Author:
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Publisher:
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