Amy owns stock that is listed on the New York Stock Exchange…

Amy owns stock that is listed on the New York Stock Exchange, and this year the stock increased in value by $21,000. She is a single tax payer, and we can assume her tax rate would be 22%.   What amount of should she include in her gross income when she’s completing her taxes?

During 2020, Margaret had the following transactions: S…

During 2020, Margaret had the following transactions: Salary $60,000 Interest income on City of Albuquerque bonds 1,000 Reimbursement for medical expenses for injury (car accident) 30,000 Punitive damages received (same car accident) 50,000 Cash dividends from General Electric stock 2,000 Margaret’s AGI is: