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14 Mar 2018

true or false

1-in 2015 taxpayers pay an additional 3.8% tax on their netinvestment income ?

2-gross income does not include social security benefitsreceived by the taxpayers ?

3-return of capital distribution generally are included in therecipient gross income ?

4- payment for child support are not included in gross income ofthe recipient custodial parent ?

5- a taxpayer who receives payment for mowing lawns must includethem in gross income ?

6- the buyer of a taxable bond with accrued interest at thepurchase date includes the purchase accrued interest in grossincome

7- taxpayers holding bonds with an original issue discount mustinclude the discount in gross income ratably (equally each year)over the life of the bonds ?

8- for tax purposes , borrowers must impute and report interestincome when the interest rate on a loan is below the market rate (the loan has a low stated rate of interest)

9-full time student between the ages of 19 and 23 are subject tothe kiddie tax

10-an accrual basis taxpayers receives and advanced payment forservices to be performed over the next three years . the taxpayersreports the payments in gross income over the years as the servicesare rendered over the next three years

11- reduced tax rates apply to dividends known as "qualifieddividends" ?

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Elin Hessel
Elin HesselLv2
14 Mar 2018

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