Beth a single taxpayer redeems series ee savings bonds in, Ask an Expert

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Beth, a single taxpayer, redeems Series EE savings bonds in 2011. She received in proceeds. She originally bought the bonds for $ 8,000 . Beth used the funds she received from the bonds to pay for her son's education. Her son had qualified education expenses in 2011 of $ 24,000 . Beth's adjusted gross income is $ 77,000 . Based on this information, what amount of interest income can Beth exclude in 2011?
A.) $0.00
B.) $ 3,146.67
C.) $ 2,426.67
D.) $ 1,573.33
E.) $ 4,000.00

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91064103

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