What is the amount of interest income that must be reported


A taxpayer received the following distributions from a Federal Mutual Fund for the calendar year: Capital gain distributions = $170; Ordinary dividends = $250; Nontaxable distribution = $80; His spouse received $175 in interest on a savings account at NV National Bank and $1,475 in interest on the US Treasury Bills. The taxpayer and his spouse filed a joint tax return for the current year. What is the amount of interest income that must be reported in their joint tax return?

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Accounting Basics: What is the amount of interest income that must be reported
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