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Ivette received Social Security benefits during the current year of $16,400. Ivettes only other sources of income were wages of $14,000, interest income from corporate
Ivette received Social Security benefits during the current year of $16,400. Ivettes only other sources of income were wages of $14,000, interest income from corporate bonds of $4,500, and taxable domestic dividends of $1,100. Ivette is single, 72-years of age, and has no dependents. a. Calculate Ivettes AGI. b. What would be Ivettes AGI if Ivette also had tax-free municipal bond interest income of $9,600.
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