Business, 17.03.2021 23:40, josephrosanne18

Tony and lia, a married couple, come to you to prepare their federal joint individual income tax return. They have the following items of income: Interest Income from a Savings Account at the BMCC Bank: $5,000
Interest Income from the City of New York municipal bonds: $6,200
Dividends Income from the IBM Corporation: $4,000 (which is qualified).
Received from the Acme Mutual Fund: $3,000 in qualified dividends. $2,000 for capital gain income and $500 for a return of capital.
Dividends received from Foreign Mobile Communications, Inc. a foreign, non-US corporation: $1,000
The couple also has total salaries of $45,000
The couple does not have any children.
Jessica has pension income of $10,000 of which $4,000 is taxable income.
You calculate that Lenny and Jessica have $22,000 in itemized deductions.

16. Which items (with amounts) and how much in total would be reported on Schedule B, Part I, Interest for Lenny and Jessica. Show all work as to how you came to your answer.
17. Which items (with amounts) and how much in total would be reported on Schedule B, Part II, as Dividends for Lenny and Jessica. Show all work as to how you came to your answer.

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Tony and lia, a married couple, come to you to prepare their federal joint individual income tax ret...