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The decision to be entered is not reviewable by any other court,
and this opinion should not be cited as authority.
Respondent determined a deficiency of $514 in petitioner's
Federal income tax for 2000. The issue for decision is whether
petitioner was required to report $3,531 of interest income she
received from the redemption of United States savings bonds.
Some of the facts have been stipulated and are so found.
The stipulation of facts and the accompanying exhibits are
incorporated herein by reference. At the time the petition was
filed, petitioner resided in San Antonio, Texas.
Background
In 2000, petitioner cashed and deposited proceeds from two
U.S. savings bonds at Security Service Federal Credit Union
(Security Service). The bonds were purchased by petitioner's
father (Mr. Medina) beginning in 1982. Petitioner redeemed the
first bond on August 23, 2000, for proceeds of $8,001, and the
second bond on December 20, 2000, for proceeds of $204.1
Security Service issued petitioner a Form 1099-INT, Interest
Income, for interest of $3,531 earned on the redeemed savings
bonds.
Respondent issued a notice of deficiency determining that
petitioner failed to report as income the interest earned on the
savings bonds.
1 Amounts are rounded to the nearest dollar.
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