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QUESTION
Oswald received $9 in interest income from the IRS. Which of the following is a true statement?
Oswald received $9 in interest income from the IRS. Which of the following is a true statement?
a) Oswald is not required to report the interest income since it is from the IRS.
b) He must report it only if it is more than $10.
c) Interest income (regardless of the source) must be reported on Oswald's tax return.
d) He is required to report it only if he has other interest income to report.
