(Answered) Betty jones files a return as a single taxpayer items of

Accounting

Betty Jones files a return as a single taxpayer. Items of income received by Betty in 2016 were as follows.

Interest on savings account with Bank of America: $100

Interest on state income-tax refund: $50

Gambling winnings: $4,800

Dividends from mutual life insurance company on life insurance policy: $1,000

Dividends declared in 2015 from Better Auto Co. received on January 2, 2016: $875

(a) How much should Betty include in her 2016 taxable income as interest?

(b) How much should Betty report as dividend income for 2016?

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