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Business, 02.02.2021 01:00 madmar

In December of this year, Paul, who is single, redeemed qualified Series EE U. S. Savings Bonds. The proceeds were used to help pay for his daughter's college tuition. Paul received proceeds of $10,000 representing principal of $7,000 and interest of $3,000. The qualified higher educational expenses he paid this year totaled $6,000. Paul has other adjusted gross income of $85,350. What is the amount of interest income Paul can exclude from his income this year

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In December of this year, Paul, who is single, redeemed qualified Series EE U. S. Savings Bonds. The...

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