Solution-Ordinary income for the current tax year

Ordinary income for the current tax year

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Reference no: EM13497496

During the current tax year Erin received the following amounts:

Salary and wages income of $98,000
A bank term deposit of $50,000, which earned interest of $4,200
A rental property from which she received $500 per week for 50 weeks of the year
Winnings of $10,000 on the poker machines
$500 from selling to friends eggs that her chickens laid
A holiday bonus of $,1000 from her employer
A watch worth $200 from a happy client

What is Erin's ordinary income for the current tax year?

Reference no: EM13497496

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Ordinary income for the current tax year

Reference no: EM13497496

Reference no: EM13497496

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