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Gelneren [198K]
3 years ago
8

Seth invested $44,000 in Series EE savings bonds on April 1. By December 31, the published redemption value of the bonds had inc

reased to $45,420. How much interest income will Seth report from the savings bonds in the current year absent any special election
Business
2 answers:
Alik [6]3 years ago
7 0

Answer:

Seth will not report any interest income on the Series EE savings bond unless he elects to have the increase in redemption value taxed currently.

Explanation:

On Series EE bonds, If seth elects cash-based reporting on income tax, he can defer payment of taxes on the interest income of Series EE savings bonds until he redeems the bond or 30 years from the date it is issued. So Seth has to pay report no interest income by December 31 unless he elects to have the increase in redemption value taxed currently.

Lunna [17]3 years ago
5 0

Answer: $0

Explanation:

Series EE Bonds are interest - bearing the United State of American government savings bonds which has guarantee to at least doubling in value over their normal 20-year initial terms. Few Series EE bonds pay interest above the original due date, up to 30 years from issuance

Seth will not report any interest income from the EE savings bonds currently unless he elects to have the increase in redemption value taxed currently.

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Answer:

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Explanation:

The marginal propensity to save is defined as the fraction of increased income that is reserved for saving and not consumption, and it is the slope of the graph of income against savings.

For example if an individual earns an extra dollar and he has propensity to save of 0.5 that means out of the one dollar he will save 50 cents and spend the remaining 50 cents.

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Answer:

False

Explanation:

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2 years ago
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3 years ago
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Answer:

A.

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