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Doug and Pattie received the following interest income in the current year Savings account at Greenbacks Bank - $4,000 United States Treasury bonds - $250
Doug and Pattie received the following interest income in the current year Savings account at Greenbacks Bank - $4,000 United States Treasury bonds - $250 Interest on State of Virgina bonds - $200 Interest on Federal tax refund - $150 Interest on state income tax refund - $75 Greenbacks Bank also gave Doug and Pattie a cellular phone (worth $100) for opening the savings account. What amount of interest income should they report on their joint income tax return? a. $4,775 b. $4,675 c. $4,575 d. $4,300 e. None of the above
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