Multiple Choice
In 2015,Kathy receives a $4,000 distribution from her Coverdell Education Savings Account (CESA) ,which has a fair market value of $10,000.Total contributions to her CESA have been $7,000.Kathy's AGI is $25,000.If Kathy uses $3,000 of the $4,000 distribution for qualified education expenses,what amount should she include in her gross income?
A) $0
B) $450
C) $750
D) $1,200
E) None of these
Correct Answer:
Verified
Correct Answer:
Verified
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