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Bill and Hillary, husband and wife, file separate returns. Bill and Hillary live in a community property state that considers separate property income to be community income. Bill's salary is $36,000 and Hillary's salary is $32,000. Hillary receives dividend income of $4,000 from stock inherited from her parents. Bill receives interest income of $5,000 from bonds purchased with his salary after marriage. Bill and Hillary receive $10,000 dividend income from stock they purchased jointly. Hillary's income would be ??

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Accounting Basics, Accounting

Category:- Accounting Basics
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