On January 1,2011,Faye gave Todd,her son,a 36-month certificate of deposit she purchased December 31,2009,for $8,638.Faye gave Todd 1,000 shares of ABC,Inc.,on December 2,2011.The certificate had a maturity value of $10,000 and the yield to maturity was 5%.On November 30,2011,ABC,Inc.,had declared a dividend of $1.00 payable to stockholders of record on December 5th.How much interest and dividends should Todd include in his gross income for 2011?

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The Answer of On January 1,2011,Faye gave Todd,her son,a 36-month certificate of deposit she purchased December 31,2009,for $8,638.Faye gave Todd 1,000 shares of ABC,Inc.,on December 2,2011.The certificate had a maturity value of $10,000 and the yield to maturity was 5%.On November 30,2011,ABC,Inc.,had declared a dividend of $1.00 payable to stockholders of record on December 5th.How much interest and dividends should Todd include in his gross income for 2011?

On January 1,2011,Faye Gave Todd,her Son,a 36-Month Certificate of Deposit