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Unformatted text preview: Interest on Bond (Panda Corporation) 4,000 Interest on CD (PNC Bank) 3,000 Cash Dividend (GE Common Stock) 1,200 Gross Income $78,200 Less Standard deduction (8,350) Less Personal &Dependent Exemption) (14,600) 3650*4 Taxable income $14,600 Note: Excluded nontaxable income Life insurance Proceed $50,000 Inheritance received on death of aunt $300,000...
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This note was uploaded on 02/13/2011 for the course ACC 307 taught by Professor Nash-haruna during the Spring '09 term at Strayer.
- Spring '09