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For 2021, Techmo Corporation, a cash-basis corporation, had the following items of income. 1) Received $500 of interest income earned in a checking (bank) account.

For 2021, Techmo Corporation, a cash-basis corporation, had the following items of income. 


  1. 1) Received $500 of interest income earned in a checking (bank) account. 

  2. 2) Received $45 of interest income from a State of Nevada Bond 

  3. 3) Received $200 of interest income from a City of San Francisco, CA Bond 

  4. 4) Received $600 of interest income from a U.S. Government Bond 

  5. 5) Sold some State of Nevada bonds for $1,000 cash. The tax basis or the Nerada bands sold was purchased in 2006. 

How much, if any, taxable income does Techmo Corporation have based on the above information.

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