A taxpayer should include which of the following when figuring their federal gross income? Prior-year federal...
A taxpayer should include which of the following when figuring their federal gross income?
Prior-year federal income tax refund
Ordinary dividends
Personal injury compensation
Qualified disaster relief payments
Homework Answers
| 1) | Prior year federal incoe tax refund not included in federal gross income. | |||||||||
| Ans) | 2) | Ordinary Dividend : Both Ordinary and qualified dividend included in Federal gross income. | ||||||||
| 3) | Compensation for physical injury is not taxable. | |||||||||
| 4) | Qualified disaster relief payment not included in federal gross income. | |||||||||
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A taxpayer should include which of the following when figuring
their federal gross income?
Prior-year federal...
1.) Which of the following is included in an individual taxpayers federal gross income? A. Disaster...
1.) Which of the following is included in an individual taxpayers federal gross income? A. Disaster relief payment B. A federal income tax refund C.Interest on state and local municipal bonds D. Unemployment compensation 2.) Which of the following is an example of unearned income? A. Compensation received by a self employment, freelance photographer for service provided. B. Interest earned on saving account C. Tip D. Wages from a part time job 3.) Howard and Teresa were married for 52...
Patricia receives the following during the year: Interest on refund of federal income tax for the...
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Which, if any, of the following is a deduction for Adjusted Gross Income? A portion of...
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