Question

Which of the following are taxable income reported on Form 1040? a. Child Support b. Non-employee...

Which of the following are taxable income reported on Form 1040?

a. Child Support
b. Non-employee compensation
c. Benefits from the Veteran's Affairs
d. Welfare benefits
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Non-employee compensation or 1099-MISC income is not subject to FICA taxes but in general income tax is applicable on it, thus the answer is:

b)  Non-employee compensation

Add a comment
Know the answer?
Add Answer to:
Which of the following are taxable income reported on Form 1040? a. Child Support b. Non-employee...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Monroe is Choose one answer. a. Child Support b. Non-employee compensation c. Benefits from the Veteran's...

    Monroe is Choose one answer. a. Child Support b. Non-employee compensation c. Benefits from the Veteran's Affairs d. Welfare benefits If the taxpayer files married filing separate, which of the following statements is not correct? Choose one answer. a. Cannot take any education credits. b. Cannot take the earned income credit. C. Cannot take the child tax credit. d. Cannot take the credit for child and dependent care expenses. AGI - Standard or Itemized Deduction - QBIDE a. Total Income...

  • 21. Taxable interest received by the taxpayer is reported on which of the following forms? A. Form 1040 (secon...

    21. Taxable interest received by the taxpayer is reported on which of the following forms? A. Form 1040 (second page) and Schedule A. B. Form 1040 (second page) and Schedule B. C. Form 1040 (second page) and Schedule D. 22. Which one of the following statements describes dividends? A. Dividends on insurance policies are generally taxable. B. Exempt-interest dividends received from a mutual fund are included in gross income, but at a favorable tax rate. C. Nontaxable dividends reduce the...

  • Mark each classification of income as taxable or not taxable. child support interest on municipal bonds...

    Mark each classification of income as taxable or not taxable. child support interest on municipal bonds scholarship for tuition scholarship for living expenses work study job or graduate assistance ship insurance proceeds interest on insurance proceeds gifts veterans’ benefits prizes Welfare alimony from 2018 divorce separate maintenance (this is what Texans call alimony) from 2019 divorce a. taxable b. not taxable

  • If a taxpayer has taxable scholarship income that is not reported on Form W-2, write "SCH"...

    If a taxpayer has taxable scholarship income that is not reported on Form W-2, write "SCH" on the dotted line and include the taxable amount with _________. Wages on Form 1040, line 1. Taxable interest on Form 1040, line 2b. Other gains or (losses) on Schedule 1 (Form 1040), line 14. A write-in amount on Schedule 1 (Form 1040), line 21.

  • Which of the following is NOT correctly reported on Form 1040, line 1? a) Alimony received...

    Which of the following is NOT correctly reported on Form 1040, line 1? a) Alimony received from a taxpayer's ex-husband. The ex-husband's income was 100% derived from his wages. b) Payments from a disability pension received by a person who has not yet reached normal retirement age. c) Wages of $1,000 paid to a nanny in a private household. The nanny did not receive a Form W-2 from his employer. d) A scholarship used to pay for housing expenses.

  • Regarding the tax formula and its relationship to Form 1040, which of the following statements, if...

    Regarding the tax formula and its relationship to Form 1040, which of the following statements, if any, is correct? a. Most exclusions from gross income are reported on page 2 of Form 1040. b. An above-the-line deduction refers to a deduction from AGI. c. A “Schedule 1 deduction” refers to a deduction for AGI. d. A taxpayer's AGI amount appears both at the bottom of page 1 and at the top of page 2 of Form 1040. e. None of...

  • What is the amount of taxable interest reported on the Matthews' Form 1040? A. $50 B....

    What is the amount of taxable interest reported on the Matthews' Form 1040? A. $50 B. $250 C. $300 D. $350 CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP or foreign postal code, and telephone no. OMB No. 1545-0112 Payer's RTN (optional) Interest Adelphi Bank and Trust 8020 Yonkers Blvd 2019 Income 1 Interest income YOUR CITY, STATE ZIP $ 300.00 Form 1099-INT 2 Early withdrawal penalty Copy B PAYER'S TIN RECIPIENT'S TIN...

  • John is a single taxpayer his taxable income on form 1040 line 10 is 70 1810...

    John is a single taxpayer his taxable income on form 1040 line 10 is 70 1810 John will use which method to figure the tax on his taxable income.

  • Form 2120, or a multiple support declaration must be filed with the return of the taxpayer...

    Form 2120, or a multiple support declaration must be filed with the return of the taxpayer who is: Choose one answer. a. The person for whom the multiple support agreement is in effect. b. The person who is claiming the exemption of the individual under the multiple support agreement. c. One of the individuals who has agreed not to claim the exemption. d. All of the individuals who have agreed not to claim the exemption. Wages and salaries are compensation...

  • Interest that is tax-exempt is reported on: Marks: 1 Choose one answer. O a. Form 1040...

    Interest that is tax-exempt is reported on: Marks: 1 Choose one answer. O a. Form 1040 3a b. Form 1040 36 c. Form 1040 2a d. Form 1040 2b 10 Which of the following is not true of Qualified Business Income Deduction (QBID)? Marks: 1 Choose one answer. O O o b c d Before any limits QBID is 20% of the qualified business income of all qualified business activities QBID can never be claimed for Specified Service Business Activities...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT