Question
Are these actions taxable? If yes, where would it go on the tax return (2021) 1. During 2020, Keith and Jennifer received $550 in interest
Are these actions taxable? If yes, where would it go on the tax return (2021)
1. During 2020, Keith and Jennifer received $550 in interest from Las Vegas municipal bonds, $1,070 interest from U.S. Treasury bonds, and $65 from their savings account at SCD Credit Union. Keith and Jennifer are joint owners of the Las Vegas city bonds and the U.S. Treasury bonds. They have a joint savings account at SCD Credit Union.
2. On January 21, 2020, Jennifer was involved in a car accident. Because the other driver was at fault, the other drivers insurance company paid Jennifer $1,350 for medical expenses relating to her injuries from the accident and $300 for emotional distress from the accident. She received payment on March 15, 2020.
3. Keiths father died on November 15, 2019. Keith received a $100,000 death benefit from his fathers life insurance policy on February 8, 2020.
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