Doug and Pattie received the following interest income in the current year: $$\begin{array} { l r }
\text { Savings account opened at Greenbacks Bank } & \$ 4,000 \
\text { U.S.Treasury bonds } & 250 \
\text { Interest on State of Iowa bonds } & 200 \
\text { Interest on Federal tax refund } & 150 \
\text { Interest on state income tax refund } & 75
\end{array}$$ Greenbacks Bank also gave Doug and Pattie a cellular phone (worth $100) for opening the savings account.What amount of interest income should they report on their joint income tax return?

Question

Doug and Pattie received the following interest income in the current year: $$\begin{array} { l r } 
\text { Savings account opened at Greenbacks Bank } & \$ 4,000 \
\text { U.S.Treasury bonds } & 250 \
\text { Interest on State of Iowa bonds } & 200 \
\text { Interest on Federal tax refund } & 150 \
\text { Interest on state income tax refund } & 75
\end{array}$$ Greenbacks Bank also gave Doug and Pattie a cellular phone (worth $100) for opening the savings account.What amount of interest income should they report on their joint income tax return?

Quizplus · Accepted Answer

The Answer of Doug and Pattie received the following interest income in the current year: $$\begin{array} { l r } 
\text { Savings account opened at Greenbacks Bank } & \$ 4,000 \
\text { U.S.Treasury bonds } & 250 \
\text { Interest on State of Iowa bonds } & 200 \
\text { Interest on Federal tax refund } & 150 \
\text { Interest on state income tax refund } & 75
\end{array}$$ Greenbacks Bank also gave Doug and Pattie a cellular phone (worth $100) for opening the savings account.What amount of interest income should they report on their joint income tax return?

Doug and Pattie Received the Following Interest Income in the Current