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Business, 02.10.2019 16:30 sighgabbie

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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