Asked by Renae
Sarah and brad own and operate a small farm. They made $30,000 farming, $4,000 from an inheritance, $2,300 in interest on a bank account, and $3,600 in interest on tax-exempt municipal bonds. Compute their combined gross income.
Do I add total? 39,900?
Or do I add everything but tax exempt? $36,300?
Do I add total? 39,900?
Or do I add everything but tax exempt? $36,300?
Answers
Answered by
Ms. Sue
Is this for an income tax form?
Answered by
Renae
It says... use various tax schedules and charts in your textbook as appropriate.
I don't have the text book. It's prob impossible for me to solve this without the textbook right?
I don't have the text book. It's prob impossible for me to solve this without the textbook right?
Answered by
Ms. Sue
Since this has to do with taxes, you can omit the tax-exempt bonds.
Probably #36,300 is the gross income.
Probably #36,300 is the gross income.
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