Answered: Which of the following may be ordinary…

Which of the following may be ordinary income? Salary Government pension Lottery winnings Rent from an investment property a. 1, 2, and 4 only

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter4: Additional Income And The Qualified Business Income Deduction

Section: Chapter Questions

Problem 19MCQ

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Concept explainers

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.

Question

Which of the following may be ordinary income?

Salary
Government pension
Lottery winnings
Rent from an investment property

	a.	1, 2, and 4 only
	b.	1 only
	c.	1 and 2 only
	d.	1, 2, 3, and 4

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Accounting for Employee Compensations and Benefits

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