Oswald received $9 in interest income from the IRS. Which of the following is a true statement?

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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.

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