Business, 08.09.2020 14:01, angelteddy033

Ken and lynn paid $5,000 to purchase series ee bonds in the name of their 11-year-old son. The son has no other income, and they are in the 24% tax bracket. The taxable interest this year will be $400 if an election is made to accrue the interest on an annual basis. a. Will the child owe any tax on the bond?

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Ken and lynn paid $5,000 to purchase series ee bonds in the name of their 11-year-old son. The son h...