a. Deductions b. Exceptions c. Exclusions d. Any of the above

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter10: Cost Recovery On Property: Depreciation, Depletion, And Amortization
Section: Chapter Questions
Problem 19DQ
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It refers to a flow of wealth to the taxpayer which is not treated as part of gross income for purposes of computing the taxpayer’s taxable income. 
a. Deductions
b. Exceptions
c. Exclusions
d. Any of the above
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