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Chris and his registered domestic partner (RDP), who are domiciled in California and are not permanently separated, buy a bond. The bond earns $500 interest during the year. What amount of interest must Chris report on his tax return if he files separately

Respuesta :

sandlee09

Answer:

$250

Explanation:

When two individuals buy an asset together they own 50% of that asset and 50% of the overall interest generated by that asset. That being said, if Chris files his taxes seperately then he must report $250 in his tax return. This would be half of the total interest that the bond generated during the year which is what is owned by Chris while the other half of that interest is owned by his registered domestic partner.

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