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Business, 21.02.2020 23:07 jkirby29

Marlene, a cash basis taxpayer, invests in Series EE U. S. government savings bonds and bank certificates of deposit (CDs). Determine the tax consequences of the following on her 2019 gross income. If an amount is zero, enter "0".
a. On September 30, 2019, she cashed in Series EE bonds for $10,000. She purchased the bonds in 2009 for $7,090. The yield to maturity on the bonds was 3.5%. The Series EE bonds are not subject to the original issue discount rules.
Her 2019 gross income from the bonds is $ ?

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Marlene, a cash basis taxpayer, invests in Series EE U. S. government savings bonds and bank certifi...
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