Multiple Choice
The exclusion of interest on educational savings bonds:
A) Applies only to savings bonds owned by the child.
B) Applies to parents who purchase bonds for which the proceeds are used for their child's education.
C) Means that the child must include the interest in income if the bond is owned by the parent.
D) Is phased out once the taxpayer's adjusted gross income exceeds $50,000.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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