McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

Exercise 7

Tomiko is a 50 percent owner (partner) in the Tanaka partnership.During the year, the partnership reported $1,000 of interest income and $2,000 of dividends.How much of this income must Tomiko include in her gross income?