Doug and Pattie Received the Following Interest Income in the Current

question 69

Multiple Choice

Doug and Pattie received the following interest income in the current year: Greenbacks Bank also gave Doug and Pattie a cellular phone worth $100) for opening the savings account.What amount of interest income should they report on their joint income tax return?

• A)$4,775.
• B)$4,675.
• C)$4,575.
• D)$4,300.
• E)None of these.

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Definitions:

Internal Improvements

Government-funded projects to develop the nation’s infrastructure, such as roads, bridges, and canals.

Ex Parte Milligan

1866 Supreme Court case that declared it unconstitutional to bring accused persons before military tribunals where civil courts were operating.

Military Tribunals

Special courts designed to try members of the armed forces or enemy combatants, often distinguished from civilian courts for their focus on military law and discipline.

Civil Courts

Courts responsible for resolving non-criminal disputes, including cases involving contracts, property, and family law among others.