120. LO6,7 In January 2010, Conan, a cash basis taxpayer, purchases for $4,000 a Series EE savings bond with a maturity value of $4,800 (a 6% annual yield). At the same time, he also purchases for $5,000 a 3-year bank certificate of deposit with a maturity value of $6,650 (a 10% annual yield). Both securities mature in 2012. Must Conan recognize any income in 2010? How much income must Conan recognize in 2012?
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