Question
7. Warren and Shirley Graves are married and want to file a joint return. Shirley has a 1099R showing $33,600 of gross distribution (box 1),
7. Warren and Shirley Graves are married and want to file a joint return. Shirley has a 1099R showing $33,600 of gross distribution (box 1), $32,520 of taxable distribution (box 2) and no federal withholding. They have a 1099-DIV that shows $270 of ordinary dividends and $180 of qualified dividends. They also received $9 of interest income but the bank didnt send a 1099-INT because it was less than $10. Warren has a 1099-SSA showing Social Security he received of $15,000 and federal withholding tax of $1050. Warren was born 9/21/49 and Shirley was born 3/6/54.
Is the Social Security income partially taxable?
How much is their standard deduction?
What is the correct amount of taxable interest for line 8a?
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