Child Support Payment from Kevin Hamblin $12,000 Alimony Payment from Kevin Hamblin $16,000 Gift from her father to help with legal bills $8,500 Interest income on U.S. Treasury Bond $400 Interest income of Madison City Bond (municipal bond) $250 Interest income from First Bank of Madison $165 Life insurance proceeds on the death of her mother $45,000
Child Support Payment from Kevin Hamblin $12,000 Alimony Payment from Kevin Hamblin $16,000 Gift from her father to help with legal bills $8,500 Interest income on U.S. Treasury Bond $400 Interest income of Madison City Bond (municipal bond) $250 Interest income from First Bank of Madison $165 Life insurance proceeds on the death of her mother $45,000
Chapter4: Income Exclusions
Section: Chapter Questions
Problem 67IIP
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Question
Ma4.
Are these actions taxable? If yes, where would it go on tax return? (2020)
Child Support Payment from Kevin Hamblin $12,000
Alimony Payment from Kevin Hamblin $16,000
Gift from her father to help with legal bills $8,500
Interest income on U.S. Treasury Bond $400
Interest income of Madison City Bond (municipal bond) $250
Interest income from First Bank of Madison $165
Life insurance proceeds on the death of her mother $45,000
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