Question: Lucia has a bank account at First Street Bank. She received Form 1099-INT, Interest Income, shown below. She has no other interest or dividends to

Lucia has a bank account at First Street Bank. She received Form 1099-INT, Interest Income, shown below. She has no other interest or dividends to report. How should this income be reported on Lucia's California tax return? 

Answer choices are below the image. 

A. Enter $1,400 on Form 540, line 16. Enter $1,400 on Schedule CA (540), Part I, Section A, line 2b, column 

B. Enter $1,400 on Schedule CA (540), Part I, Section A, line 2b, column 

C. She is not required to report interest from U.S. Savings Bonds.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

To determine how Lucias interest income should be reported on her California tax return we can follow these steps Step 1 Understanding Form 1099INT Fo... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!