What portion of the distribution from virginiana mutual fund

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Elsie received the following distributions from Virginiana Mutual Fund for the calendar year 2016:

Ordinary dividends (nonqualifying)               $250

Capital gain distributions                            $170

Nontaxable distributions                             $ 80

Elmer, Elsie's husband, did not own any of the Virginiana Mutual Fund shares, but he did receive $1,600 in interest on a savings account at the Moss National Bank. Elmer and Elsie filed a joint income tax return for 2016.

Question 1: What portion of the distributions from Virginiana Mutual Fund is taxable as ordinary income on their 2016 individual income tax return?

Reference no: EM132461282

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