Question

Simba and Zola are married but file separate returns. Simba received $54,400 of salary and $11,300 of taxable dividends on stock he purchased in his name and paid from the salary he earned since the marriage. Zola collected $3,400 in taxable interest on a certificate of deposit she inherited from her aunt. Compute Zola's gross income under two assumptions as to the state of residency of the couple. If an amount is zero, enter "$0".

Simba and Zola are married but file separate returns. Simba received $54,400 of salary and $11,300 of taxable dividends on stock he purchased in his name and paid from the salary he earned since the marriage. Zola collected $3,400 in taxable interest on a certificate of deposit she inherited from her aunt.

Compute Zola's gross income under two assumptions as to the state of residency of the couple.

If an amount is zero, enter "$0".

Simba and Zola are married but file separate returns. Simba received $54,400 of salary and $11,300 of taxable dividends on stock he purchased in his name and paid from the salary he earned since the marriage. Zola collected $3,400 in taxable interest on a certificate of deposit she inherited from her aunt. Compute Zola's gross income under two assumptions as to the state of residency of the couple. If an amount is zero, enter "$0". Idaho (Community Property State) South Carolina (Common Law State) Dividends $ $ Interest $ $ Salary $ $

Answer 1

Answert In all community properly states, income from personal Services is generally treated as if one half is earned byeed In case of common property state dividend income can be considered in the tax return of zola. Interest she as earned of $3,400 from taxable Certificate, she does not earned Quy salary income. hence come to zero.Lors so Iccommun. Teda kao penta stale route, como limparte Dividends $11.300% - $ 5,650 $0 Interest | $ 3.400/2 = $1700 $3400 Salary $ 54,4006 = $ 27,200 $0 • The Dividend accounts for $5,650, Interest account for $1700, and the salary accocent is $ 27,200. in community properly stale. The Dividend account $0, Interest accocent $3,400, Qud! The salary account $0 in the common Lawstate.