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Barbara and Dennis, a married couple, come to you to prepare their federal joint individual income tax return. They have the following items of income:

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Barbara and Dennis, a married couple, come to you to prepare their federal joint individual income tax return. They have the following items of income: Interest Income from a Savings Account at the BMCC Savings Bank: $2,000 Interest Income from the City of New York municipal bonds: $4,200 Dividends Income from the Prudential Corporation: $1,000 (which is qualified). Received from the CUNY Mutual Fund: $5,000 in qualified dividends. $2,000 for capital gain income and $500 for a return of capital. Dividends received from Foreign Telephone Communications, Inc. a foreign, non-US corporation: $2,000 Barbara earned a salary of $33,000 The couple does not have any children. Dennis has pension income of $12,000 of which $5,000 is taxable income. You calculate that Barbara and Dennis have $18,000 in itemized deductions. 16. Which items (with amounts) and how much in total would be reported on Schedule B, Part I, Interest for Barbara and Dennis. Show all work as to how you came t your answer. BC 9 To Part II Bo Tota Foreis

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