How much does someone have in the bank if their total taxable interest income is around 30k?
On the Schedule B of the tax return, if someone has about 30k of taxable income, how much do you think they have in the bank? Let's say the rate is 3%
Public Comments
- ?? income =/= savings
- It depends on the interest rate.
- It would be approximately $ 1 million ($ 30K รท .03 = $ 1 million Of course, Schedule B also shows dividends which might be part of the $ 30,000
- Interest of $3 for every $100 Interest of $30 for every $1000 Interest of $30k for every $1000k ($1 million).
- if the rete is 3% . then the answer would be 30k/3% which is 1,000,000/- but no bank gives such a lesser rate of interest.
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