Question
Tony received the following distributions from Virginia Mutual Funds for the calendar year 2021. Ordinary dividends $250 Capital gains distributions $170 Non taxable distributions $80
Tony received the following distributions from Virginia Mutual Funds for the calendar year 2021.
Ordinary dividends $250
Capital gains distributions $170
Non taxable distributions $80
Trudy, Tony's wife did not own any of the Virginia Mutual Fund shares, but she did receive $1,475 in interest on a savings account at the Moss National Bank and $175 in interest on California Municipal Bonds. The couple file a joint return for 2020. What amount is reportable as taxable interest income?
Group of answer choices
$175
$ 0
none of these answers
$1,650
$1,475
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