George,an unmarried cash basis taxpayer,received the following amounts during 2016:
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 1,2015,and matured on June 30,2016
250
Dividends on USG common stock
300
What amount should George report as gross income from dividends and interest for 2016?
A) $2,300.
B) $2,550.
C) $3,150.
D) $3,500.
E) None of these.
Correct Answer:
Verified
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