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Taxpayer, a married cash basis taxpayer, received the following amounts during 2016: Interest on savings accounts $2,000 Interest on a corporate bond 600 Interest on
Taxpayer, a married cash basis taxpayer, received the following amounts during 2016: Interest on savings accounts $2,000 Interest on a corporate bond 600 Interest on City of Salem school bonds 350 Interest portion of proceeds of a 5% bank certificate of deposit purchased on July 1, 2015, and matured on June 30, 2016 250 Dividends on USG common stock 300 What amount should Taxpayer report as taxable income from dividends and interest for 2016?
A.$2,300
B.$3,150
C.None of these choices are correct.
D.$2,550
E.$3,500
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