George,an unmarried cash basis taxpayer,received the following amounts during 2010: What amount should George report as gross income from dividends and interest for 2010?

Question

George,an unmarried cash basis taxpayer,received the following amounts during 2010:  What amount should George report as gross income from dividends and interest for 2010?

Quizplus · Accepted Answer

George should report $4,100 as gross income from dividends and interest for 2010. 
Dividend income (Box 1a): $2,500 
Interest income (Box 1): $1,600 
Total: $4,100

George,an Unmarried Cash Basis Taxpayer,received the Following Amounts During 2010