During the current tax year Erin received the following amounts: Salary and wages income of $98,000....

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During the current tax year Erin received the following amounts: Salary and wages income of $98,000. $4,200 interest from a bank term deposit of $50,000. $500 per week for 50 weeks of the year from a rental property she owns. Winnings of $10,000 on the poker machines. $500 from selling eggs that her chickens laid to friends. A holiday bonus of $1,000 from her employer. (statutory income) A watch worth $200 from a happy client. What is Erin's ordinary income for the current tax year? ● ● ● ● ● During the current tax year Erin received the following amounts: Salary and wages income of $98,000. $4,200 interest from a bank term deposit of $50,000. $500 per week for 50 weeks of the year from a rental property she owns. Winnings of $10,000 on the poker machines. $500 from selling eggs that her chickens laid to friends. A holiday bonus of $1,000 from her employer. (statutory income) A watch worth $200 from a happy client. What is Erin's ordinary income for the current tax year? ● ● ● ● ●

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Erins ordinary income for the current tax year is the sum of her salary and wages income interest ... View the full answer