Amy Finch had the following cash receipts during 2007:
|
Dividend from a mutual insurance company on a life insurance policy |
$500 |
|
Dividend on listed corporation stock; payment date by corporation was 12/30/06, but Amy received the dividend in the mail on 1/2/07 |
875 |
Total dividends received to date on the life insurance policy do not exceed the aggregated premiums paid by Amy. How much should Amy report for dividend income for 2007?
- $1,375
- $ 875
- $ 500
- $0