Marvin and Stacy Are Retired

question 120

Multiple Choice

Marvin and Stacy are retired. During the current year, they receive $10,000 in Social Security benefits. They have $45,000 of other taxable gross income and receive $23,000 of municipal bond interest. The taxable portion of the $10,000 Social Security payment is:

• A)$-0-
• B)$5,000
• C)$8,500
• D)$10,000

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Definitions:

Prescription

A physician's written order for medication.

Millimeters

A metric unit of length equal to one thousandth of a meter.

Kilometer

A unit of length in the metric system, equal to 1,000 meters.

Physician

A healthcare professional who diagnoses and treats illnesses and injuries in patients.