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How much income must Rebecca recognize this year

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Problem - Rebecca, a single taxpayer, owns a Series I U.S. Savings Bond that increased in value by $46 during the year. She makes no special election. How much income must Rebecca recognize this year?

a. $0

b. $46

c. $23

d. $0 if in first 5 years or $46 thereafter

Reference no: EM132673889

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