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:
Verified
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