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5 February, 22:02

Sally received $50,000 of compensation from her employer and she received $400 interest from a corporate bond. What is the amount of Sally's gross income from these items?

A) $400

B) $50,000

C) $50,400

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Answers (1)
  1. 6 February, 01:13
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    C) $50,400

    Explanation:

    If Sally received $50,000 of compensation from her employer and she received $400 interest from a corporate bond, then the amount of Sally's gross income from these items is $50,400

    Sally's income taxable is not only her employment compensation but also the interest she earns from a corporate bond is subject to income tax.
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