Indicate whether the following income sources must be included or may be excluded from gross income: a.Insurance
Question:
Indicate whether the following income sources must be included or may be excluded from gross income:
a. Insurance proceeds for loss of finger
b. Prizes
c. Embezzlement proceeds
d. Interest on all savings deposits
e. Child support
f. Interest on Series HH bonds
g. Receipt of alimony by divorced husband - divorce agreement executed in 2018
h. Income produced from property acquired by gift
i. Gifts and inheritances
j. Scholarship grants for tuition
k. Compensation for injuries or sickness
l. Interest income on bonds issued by State of Ohio
m. Life insurance proceeds from a group plan.
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Indicate whether the following income sources must be included or may be excluded from gross income a Insurance proceeds for loss of finger May be exc...View the full answer
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Related Book For 
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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