Question
1) Tala, who is married and filing joint return, received $30,000 interest and dividend income in 2019. She also received $10,000 interest from municipal bonds.
1) Tala, who is married and filing joint return, received $30,000 interest and dividend income in 2019. She also received $10,000 interest from municipal bonds. Her MAGI for 2019 is $58,000. How much of her social security benefit is taxable?
A. | some other amount. | |
B. | $36,000. | |
C. | $17,900. | |
D. | $30,600. | |
E. | $6,000. |
2) Mona, a single individual, received $17,000 of dividend income, $40,000 of interest income from tax-exempt bonds, and $15,000 in Social Security benefits in 2019.
What is the taxable portion of Monas social security benefits?
A. | $30,425. | |
B. | $15,000. | |
C. | some other amount. | |
D. | $7,500. | |
E. | $12,750. |
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