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Destiny received the following distributions from Greener Mutual Fund for the calendar year 2022: Ordinary dividends (nonqualifying) $250 Capital gain distributions 170 Nontaxable distributions 80
Destiny received the following distributions from Greener Mutual Fund for the calendar year 2022:
Ordinary dividends (nonqualifying) | $250 |
Capital gain distributions | 170 |
Nontaxable distributions | 80 |
Garrison, Destiny's husband, did not own any of the Greener Mutual Fund shares, but he did receive $1,600 in interest on a savings account at the Grassley National Bank. Garrison and Destiny filed a joint income tax return for 2022. What portion of the distributions from Greener Mutual Fund is taxable as ordinary income on their 2022 individual income tax return?
a. $250
b. $500
c. $420
d. $0
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