a. Are items of income not listed in Sec. 61 taxable? Explain. b. Because there is no
Question:
b. Because there is no specific exclusion for unrealized income, why is it not taxable?
c. Can income be realized even when a cash-method taxpayer does not receive cash?
d. Does a cash basis taxpayer realize income upon the receipt of a note?
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a Although Sec 61 lists several different types of taxable income it also says any ...View the full answer
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Related Book For 
Federal Taxation 2016 Comprehensive
ISBN: 9780134104379
29th Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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