Pluto is single and retired. This year Pluto received $15,000 in qualified dividends, $3,000 in municipal bond interest and $10,000 of Social Security payments. What amount must Pluto include in his gross income?      


Kanga is single and retired. This year Kanga received $22,000 in qualified dividends, $5,500 in muni bond interest and $12,000 of Social Security payments. What amount must Kanga include in her gross income?      

 
Jafar is a former executive who is retired. This year Jafar received $235,000 in qualified dividend, $10000 in muni interest payments and $43,200 of Social Security payments. What amount must Jafar include in his gross income?

Answer rating: 100% (QA)

For tax purposes the inclusion of various types of income in gross income depends on certain rules and thresholds Lets analyze each case separately for plutoQualified dividends Qualified dividends are ... View the full answer