Help Save & 9 Required information The following information applies to the ques

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Help Save & 9 Required information The following information applies to the questions displayed below] George and Weezy received $28,700 of Social Security benefits this year ($10,800 for George; $17.900 for W also received $4,700 of interest from jointly owned City of Ranburne Bonds and dividend income rity benefits this year (510,800 for George: $17.900 for Weezy), They What amount of the Social Security benefits must George and Weezy include in their gross income under the following independent situations? (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.) c. George and Weezy file married joint and receive $31,800 of dividend income from stocks owned by George Amount to be included Next >

Explanation / Answer

Part D

Answer C a) Amt to be included is 24395 a They will exclude entire $28700 of Social security benefit As sum of modified AGI plus 50% of social security benefit exceeds $ 44000 (4700+31800+(50%*28700)=$ 4700 + $ 31800 + $ 14350 = $ 50850), 85% of the benifits will be taxable and $ 24395 will be included

Part D

As sum of modified AGI plus 50% of social security benefit 4700+15900+(50%*28700)=$ 34950 exceeds $ 34000, only 50% of SSc shall be included, that is 14350

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