Elsie received the following distributions from Virginiana Mutual Fund for the calendar year 2017: Elmer,Elsie's husband,did not own any of the Virginiana Mutual Fund shares,but he did receive $1,600 in interest on a savings account at the Moss National Bank.Elmer and Elsie filed a joint income tax return for 2017.What portion of the distributions from Virginiana Mutual Fund is taxable as ordinary income on their 2017 individual income tax return?

Question

Quizplus · Accepted Answer

The Answer of Elsie received the following distributions from Virginiana Mutual Fund for the calendar year 2017: Elmer,Elsie's husband,did not own any of the Virginiana Mutual Fund shares,but he did receive $1,600 in interest on a savings account at the Moss National Bank.Elmer and Elsie filed a joint income tax return for 2017.What portion of the distributions from Virginiana Mutual Fund is taxable as ordinary income on their 2017 individual income tax return?

Elsie Received the Following Distributions from Virginiana Mutual Fund for the Calendar