On January 1, 2012, Faye gave Todd, her son, a 36-month certificate of deposit she purchased December 31, 2010, for $8,638.Faye gave Todd 1,000 shares of ABC, Inc., on December 2, 2012.The certificate had a maturity value of $10,000 and the yield to maturity was 5%.On November 30, 2012, 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 2012?

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The Answer of On January 1, 2012, Faye gave Todd, her son, a 36-month certificate of deposit she purchased December 31, 2010, for $8,638.Faye gave Todd 1,000 shares of ABC, Inc., on December 2, 2012.The certificate had a maturity value of $10,000 and the yield to maturity was 5%.On November 30, 2012, 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 2012?

On January 1, 2012, Faye Gave Todd, Her Son, a 36-Month