Answered: Exclusion from gross income refers to…

Exclusion from gross income refers to income received or earned but is not taxable as income because it is exempted by law or by treaty a.true b.false

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter2: Gross Income And Exclusions

Section: Chapter Questions

Problem 1MCQ: The definition of gross income in the tax law is: All items specifically listed as income in the tax...

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Exclusion from gross income refers to income received or earned but is not
taxable as income because it is exempted by law or by treaty

a.true

b.false

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The definition of gross income in the tax law is: All items specifically listed as income in the tax law All cash payments received for goods provided and services performed All income from whatever source derived All income from whatever source derived unless the income is earned illegally
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