Question
Steve was a single person during all of 2017. His income consisted of social security benefits of $34,500, interest income from US government bonds of
Steve was a single person during all of 2017. His income consisted of social security benefits of $34,500, interest income from US government bonds of $12,900, dividends from Microsoft (headquartered in Washington state) of $32,000, a state tax refund from 2016 of $9,550, and some workers compensation payments of $27,000 for getting hurt on the job. Steve also won a lawsuit during the year which paid him $458,500 after paying his attorney 30% of the gross total award. Steve had sued Taco Heaven because they had accidentally served Steve a taco made from goat meat of which Steve is very afraid from his childhood accidents involving goats and sheep. What will be Steves adjusted gross income for California purposes?
a. 687,000
b. 574,450
c. 564,900
d. 699,900
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