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Required information [The following information applies to the questions displayed below.] Grady received $8,760 of Social Security benefits this year. Grady also reported salary and
Required information [The following information applies to the questions displayed below.] Grady received $8,760 of Social Security benefits this year. Grady also reported salary and interest income this year. What amount of the benefits must Grady include in his gross income under the following five independent situations? Note: Leave no answer blank. Enter zero if applicable. b. Grady files single and reports salary of $23,540 and interest income of $740. d. Grady files married joint and reports salary of $44,000 and interest income of $840. e. Grady files married separate and reports salary of $23,540 and interest income of $740. Required information [The following information applies to the questions displayed below.] Grady is a member of a large family and received the following payments this year. For each payment, determine whether the payment constitutes realized income and determine the amount of each payment Grady must include in his gross income. Note: Leave no answer blank. Enter zero if applicable. c-1. A gift of $68,000 of Ford Motor Bonds. c-2. Grady received the bonds on October 31 , and he received $2,040 of semiannual interest from the bonds on December 31
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