Business, 15.11.2019 01:31 payshencec21

George, an unmarried cash basis taxpayer, received the following amounts during 2017:

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, 2016, and matured on june 30, 2017
250
dividends on usg common stock 300

what amount should george report as gross income from dividends and interest for 2017?
a. $2,300.
b. $2,550.
c. $3,150.
d. $3,500.
e. none of these.

Answers: 3

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George, an unmarried cash basis taxpayer, received the following amounts during 2017:

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