NAIMMCQ Tax Carla redeemed EE bonds which qualify for the educational exclusion. The redemption consisted of $14,000 principal and $6,000 interest. The net qualifying educational expenses are $10,000. No reduction of the exclusion is required. The taxable interest is

Carla redeemed EE bonds which qualify for the educational exclusion. The redemption consisted of $14,000 principal and $6,000 interest. The net qualifying educational expenses are $10,000. No reduction of the exclusion is required. The taxable interest is

Tax

Carla redeemed EE bonds which qualify for the educational exclusion. The redemption consisted of $14,000 principal and $6,000 interest. The net qualifying educational expenses are $10,000. No reduction of the exclusion is required. The taxable interest is

A) $0.
B) $2,400.
C) $3,000.
D) $6,000.

Answer: C

NAIMMCQ

Carla redeemed EE bonds which qualify for the educational exclusion. The redemption consisted of $14,000 principal and $6,000 interest. The net qualifying educational expenses are $10,000. No reduction of the exclusion is required. The taxable interest is

Carla redeemed EE bonds which qualify for the educational exclusion. The redemption consisted of $14,000 principal and $6,000 interest. The net qualifying educational expenses are $10,000. No reduction of the exclusion is required. The taxable interest is

Share this