Elmer Received the Following Distributions from Virginiana Mutual Fund for the Calendar

question 112

Multiple Choice

Elmer received the following distributions from Virginiana Mutual Fund for the calendar year 2018: $$\begin{array} { l r } \text { Ordinary dividends } & \$ 250 \\\text { Capital gain distributions } & \$ 170 \\\text { Nontaxable distributions } & \$ 80\end{array}$$ Elsie, Elmer's wife, did not own any of the Virginiana Mutual Fund shares, but she did receive $1,475 in interest on a savings account at the Moss National Bank and $175 in interest on California Municipal Bonds.Elmer and Elsie filed a joint income tax return for 2018.What amount is reportable as taxable interest income?

• A)$0
• B)$175
• C)$1,475
• D)$1,650
• E)None of the above

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Definitions:

Supporting Device

An apparatus designed to hold, fix, or support something, especially to aid a person with physical limitations.

Natural Directional Movements

Movements occurring in the body that follow the natural biomechanical pathways for efficiency and decreased strain.

Exercise

Physical activity that is planned, structured, and repetitive for the purpose of conditioning the body, improving health, and maintaining fitness.

Retirement Facilities

Specialized housing designed to meet the needs of the elderly, often providing medical care, social activities, and support services.