1. Which of the following must be included in the gross income of the recipient in 2021? a.Unemployment compensation b.Child support payments c.Welfare payments d.Gifts e.All of these choices are included in gross income.
1. Which of the following must be included in the gross income of the recipient in 2021? a.Unemployment compensation b.Child support payments c.Welfare payments d.Gifts e.All of these choices are included in gross income.
Chapter3: Tax Formula And Tax Determination : An Overview Of Property Transactions
Section: Chapter Questions
Problem 30P
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Question
1. Which of the following must be included in the gross income of the recipient in 2021?
a.Unemployment compensation
b.Child support payments
c.Welfare payments
d.Gifts
e.All of these choices are included in gross income.
2. All of the following must be included in gross income, except:
a.Gambling winnings
b.Jury duty fees
c.Dividends
d.Gifts
e.Partnership income
3. All of the following amounts are excluded from gross income, except:
a.Gifts
b.Veterans' benefits
c.Tips and gratuities
d.Child support payments
e.Scholarship grants for tuition
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