jennifer owns a state public purpose bond. she sells the bond and realizes a capital gain of $4,000. prior to selling the bond, the total interest she had earned for the year was $99. considering the sale and the interest amount, calculate the amount she must include in gross income for federal income tax purposes.

The amount of money earned in a fiscal year before taxes are referred to as annual gross income. The sum of cash you earn in a fiscal year after certain deductions is your annual net income.

Given

Capital Gain = $4000

Interest earned = $99

Required to calculate Gross income for tax purposes =?

Gross income for tax purpose = $4000 + $99 = $4099

Employee's gross pay is what they earn before taxes, benefits, and other payroll deductions are deducted from their pay. Net pay, also known as take-home pay, is the amount left over after all withholdings are deducted. Their gross income for Jennifer includes capital gain and interest she earned on it.

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