QUESTION 15

During 2019, John, single, had the following transactions:

Interest portion of proceeds of a 5% bank certificate of deposit

purchased on July 1, 2018, and matured on June 30, 2019 $2,000

Inheritance 7,000

Federal income tax refund for last years tax overpayment 4,000

In addition, John has a one fifth interest in the capital and profits of the M&M Partnership. In the first year of the partnership, 2019, it earned $50,000. The partnership made a cash distribution of $40,000 to all the partners in 2019.

Johns amount included in gross income in 2019 is:

please provide correct answer. Thanku!!