The Amount of Interest Income a Taxpayer Recognizes When He

Multiple Choice

The amount of interest income a taxpayer recognizes when he redeems a U.S. savings bond is:

A) the excess of the taxpayer's basis in the bonds over the bond proceeds.
B) the bond proceeds.
C) the excess of the bond proceeds over the taxpayer's basis in the bonds.
D) the taxpayer's basis in the bonds.
E) None of the choices are correct.