me: Inclusions and Exclusions 23. An individual must complete Schedule B if the following situation occurs a. Receives interest income over $1,500. b. Receives child support payments of $1,650. c. Receives qualified dividends of $1,050. d. Receives interest income of $1,450. 24. The basis of the property received as a dividend by a shareholder of a corporation is a. The book value at the date of distribution. b. The original cost at the date of purchase. c. The accounting value at the date of distribution. d. The fair market value at the date of distribution. 25. When an individual who is single has taxable income of $60,000, the tax rate on qualified dividends is a. 0%. b. 25%. c. 15%. d. 5%. 26. Graciela, who is single, reported itemized deductions of $12,500 on her 2020 tax return. Her itemized deductions included $200 of state taxes paid. In 2021, she received a $150 refund of state taxes paid in 2020. What is the amount that Graciela needs to report on her 2021 tax return? Use the Internet (www.irs.gov) to find out how much the standard deduction was for 2020. a. $200. b. $100. c. $0. d. She needs to amend her 2020 tax return.