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Exercise 4-23 (Algorithmic) (LO. 3) Simba and Zola are married but file separate returns. Simba received...

Exercise 4-23 (Algorithmic) (LO. 3)

Simba and Zola are married but file separate returns. Simba received $34,000 of salary and $12,700 of taxable dividends on stock he purchased in his name and paid from the salary that he earned since the marriage. Zola collected $9,525 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."

New Mexico
(Community Property State)		 South Carolina
(Common Law State)
Dividends $ $
Interest $ $
Salary $ $
business   accounting   
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