Frasier and Marcella, husband and wife, file separate returns. Frasier and Marcella live in a community property state that considers separate property income to be separate. Frasier's salary is $32,000 and Marcella's salary is $35,000. Marcella receives dividend income of $4,000 from stock inherited from her parents. Frasier receives interest income of $5,000 from bonds purchased with his salary after marriage. Frasier and Marcella receive $10,000 dividend income from stock they purchased jointly. Marcella's income would be
This question was answered on: Sep 16, 2020
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