Doug and Pattie Received the Following Interest Income in the Current

question 17

Multiple Choice

Doug and Pattie received the following interest income in the current year:
Savings account at Greenbacks Bank
$4,000
United States Treasury bonds
250
Interest on State of Iowa bonds
200
Interest on Federal tax refund
150
Interest on state income tax refund
75
​
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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