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Heather's Interest and Gains on Investments for the Current Year

Question 85

Multiple Choice

Heather's interest and gains on investments for the current year are as follows:
Interest on Madison County school bonds
$600
Interest on U.S.government bonds
700
Interest on a Federal income tax refund
200
Gain on the sale of Madison County school bonds
500

Heather's adjusted gross income from the above is: or;

Heather must report gross income in the amount of:


A) $2,000.
B) $1,800.
C) $1,400.
D) $1,300.
E) None of these.

Correct Answer:

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