George,an unmarried cash basis taxpayer,received the following amounts during 2015: Interest on savings accounts $2,000 Interest on a State tax refund 600 Interest on City of Salem school bonds 350 Interest portion of proceeds of a 5% bank certificate of deposit purchased on July 1,2014,and matured on June 30,2015 250 Dividends on USG common stock 300 What amount should George report as gross income from dividends and interest for 2015?

Question

George,an unmarried cash basis taxpayer,received the following amounts during 2015: Interest on savings accounts $2,000 Interest on a State tax refund 600 Interest on City of Salem school bonds 350 Interest portion of proceeds of a 5% bank certificate of deposit purchased on July 1,2014,and matured on June 30,2015 ​ 250 Dividends on USG common stock 300 ​ What amount should George report as gross income from dividends and interest for 2015?

Quizplus · Accepted Answer

The Answer of George,an unmarried cash basis taxpayer,received the following amounts during 2015: Interest on savings accounts $2,000 Interest on a State tax refund 600 Interest on City of Salem school bonds 350 Interest portion of proceeds of a 5% bank certificate of deposit purchased on July 1,2014,and matured on June 30,2015 ​ 250 Dividends on USG common stock 300 ​ What amount should George report as gross income from dividends and interest for 2015?

George,an Unmarried Cash Basis Taxpayer,received the Following Amounts During 2015