Question

Frank and Marion, husband and wife, file separate returns. Frank and Marion live in a common law state. Frank's salary is $42,000 and Marion's salary is $46,000. Marion receives dividend income of $4,000 from stock inherited from her parents. Frank receives interest income of $1,000 from bonds purchased with his salary after marriage. Frank and Marion receive $3,200 dividend income from stock they purchased jointly. Marion's income would be

Answer 1

$50,100

Step-by-step explanation:

Calculation for what Marion's income would be

Marion's salary $46,000

Add Dividend income $4,000

Add Joint Dividend income $1,600

(3,200/2)

Marion's income $50,100

($46,000 + $4,000 + $1,600)

Therefore Marion's income would be $50,100