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.

Question

Do I add total? 39,900?

Or do I add everything but tax exempt? $36,300?

Answer 1

Is this for an income tax form?

Answer 2

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?

Answer 3

Since this has to do with taxes, you can omit the tax-exempt bonds.

Probably #36,300 is the gross income.