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  3. during the tax year, taxpayer cashed in series ee

During the tax year, taxpayer cashed in Series EE savings bonds with a redemption value...

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Accounting

During the tax year, taxpayer cashed in Series EE savings bonds with a redemption value of $18,000 and an original cost of $7,600. Taxpayer, whose Modified Adjusted Gross Income is below the beginning of the phase-out range, spent $10,800 on his dependent child's tuition during the year. Determine the amount taxpayer must include in gross income as a result of the redemption.

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