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April 16, 2014

Homework Help: Taxation

Posted by DEE on Friday, December 10, 2010 at 11:12am.

"Sally W. Emanual had the following dividends and interest during the current year.

Acorn Corporation bond interest $700
City of Boston bongs interest 1,000
Camp Bank interest 1,250
Jet Corporation dividend(Qualified) 1,300
North Mutual fund
Capital gain distribution 100
Ordinary dividend(Qualified) 150
Nontaxable distribution +200 ---> 450
Blue Corporation foreign dividend 250

Additional information pertaining to Sally Emanual includes
Salary 30,000
Rent Income 12,000
Expenses related to rent income 14,000
Pension benefits 8,000
Alimony paid to Sally 4,000

The taxable portion of the pension is $7,000. Sally actively participates in the rental activity. Other relevant information includes
Address: 430 Rumsey Place, West Falls, California 92699
Occupation: Credit Manager
SSN: 123-45-4321
Martial status: Single

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