Review the following scenario Use the information provided to answer questions about the taxpayers 2020 return Chris (45) and Allison (46) Castillo are married, and they will file a joint return During the year, they earned $82,500 in wages They also had investment income consisting of $200 interest income from a savings account with their local bank, reported on Form 1099 INT $350 interest income from a certificate of deposit held with another local bank, reported on Form 1099 INT $250 interest income from a U S Treasury note, reported on Form 1099 INT $500 tax exempt interest income from a municipal bond investment, reported on Form 1099 INT $1,700 in ordinary dividends from a mutual fund investment, reported on Form 1099 DIV They had no other income Review the following scenario Use the information provided to answer questions about the taxpayers 2020 return What amount will Chris and Allison report for taxable interest on their Form 1040 The couple's partially completed Form 1040, page 1, is shown below You may use the form to assist you in answering this question

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Review the following scenario. Use the information provided to answer questions about the taxpayers 2020 return. Chris (45) and Allison (46) Castillo are married, and

Review the following scenario. Use the information provided to answer questions about the taxpayers 2020 return. Chris (45) and Allison (46) Castillo are married, and they will file a joint return. During the year, they earned $82,500 in wages. They also had investment income consisting of:

$200 interest income from a savings account with their local bank, reported on Form 1099-INT.
$350 interest income from a certificate of deposit held with another local bank, reported on Form 1099-INT.
$250 interest income from a U.S. Treasury note, reported on Form 1099-INT.
$500 tax-exempt interest income from a municipal bond investment, reported on Form 1099-INT.
$1,700 in ordinary dividends from a mutual fund investment, reported on Form 1099-DIV.

They had no other income.Review the following scenario. Use the information provided to answer questions about the taxpayers 2020 return. What amount will Chris and Allison report for taxable interest on their Form 1040? The couple's partially completed Form 1040, page 1, is shown below. You may use the form to assist you in answering this question.