1. Elmer received the following distributions from Virginiana Mutual Fund for the calendar year 2018: Ordinary dividends $250 Capital gain distributions $170 Nontaxable distributions $80 Elsie,...

Extracted text: 1. Elmer received the following distributions from Virginiana Mutual Fund for the calendar year 2018: Ordinary dividends $250 Capital gain distributions $170 Nontaxable distributions $80 Elsie, Elmer's wife, did not own any of the Virginiana Mutual Fund shares, but she did receive $1,475 in interest on a savings account at the Moss National Bank and $175 in interest on California Municipal Bonds. Elmer and Elsie filed a joint income tax return for 2018. What amount is reportable as taxable interest income? $1,475 a. b. $175 C. SO d. None of the above e. $1,650