In 2015, Fred and Elizabeth, who are married and filing jointly, received $29,000 in social security benefits. Their AGI (excluding social security) is $36,000 and they received $12,000 in tax-exempt interest income. How much of their social security must they include in gross income in 2015?

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter8: Taxation Of Individuals
Section: Chapter Questions
Problem 35P
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In 2015, Fred and Elizabeth, who are married
and filing jointly, received $29,000 in social
security benefits. Their AGI (excluding social
security) is $36,000 and they received
$12,000 in tax-exempt interest income.
How much of their social security must they
include in gross income in 2015?
Do not copy from chegg.
Transcribed Image Text:In 2015, Fred and Elizabeth, who are married and filing jointly, received $29,000 in social security benefits. Their AGI (excluding social security) is $36,000 and they received $12,000 in tax-exempt interest income. How much of their social security must they include in gross income in 2015? Do not copy from chegg.
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