### Tax Calculation for Social Security Benefits and Dividend Income**Scenario:**George and Weezy received a total of $30,100 in Social Security benefits this year. The breakdown is as follows:- $11,500 for George- $18,600 for WeezyAdditionally, they also received $5,050 of interest from jointly owned City of Ranburne Bonds and dividend income.**Question:**What amount of the Social Security benefits must George and Weezy include in their gross income under the following independent situations? (Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.)**Specific Situation c:**George and Weezy filed married jointly and received $33,200 of dividend income from stocks owned by George.**Amount to be included:**[ Input box for the amount to be included ]Please refer to this educational module to compute the taxable portion of Social Security benefits, considering different combinations of income and filing status.

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C. George and Weezy file married joint and receive $33,200 of dividend income from stocks owned by George.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

### Tax Calculation for Social Security Benefits and Dividend Income

**Scenario:**
George and Weezy received a total of $30,100 in Social Security benefits this year. The breakdown is as follows:
- $11,500 for George
- $18,600 for Weezy

Additionally, they also received $5,050 of interest from jointly owned City of Ranburne Bonds and dividend income.

**Question:**
What amount of the Social Security benefits must George and Weezy include in their gross income under the following independent situations? (Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.)

**Specific Situation c:**
George and Weezy filed married jointly and received $33,200 of dividend income from stocks owned by George.

**Amount to be included:**
[ Input box for the amount to be included ]

Please refer to this educational module to compute the taxable portion of Social Security benefits, considering different combinations of income and filing status.

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