MC$\mathrm{.}04-050$

MC$\mathrm{.}04-065$

MC$\mathrm{.}04-071$

MC$\mathrm{.}04-074$

MC$\mathrm{.}04-090$

BCPA$\mathrm{.}04\mathrm{.}01$

BCPA$\mathrm{.}04\mathrm{.}04$

MC$\mathrm{.}05-039$

MC$\mathrm{.}05-048$

MC$\mathrm{.}05-049$

MC$\mathrm{.}05-052$

MC$\mathrm{.}05-058$

MC$\mathrm{.}05-066$

BCPA$\mathrm{.}05\mathrm{.}01$

MC$\mathrm{.}06-065$

MC$\mathrm{.}06-074$

MC$\mathrm{.}06-079$

MC$\mathrm{.}06-087$

Progress:$5/18$ items

Question Content Area

The amount of Social Security benefits received by an individual that must be included in gross income:

a$.$ May be zero or as much as $85\%$ of the Social Security benefits received, depending upon the taxpayer's Social Security benefits and other income.

b$.$ May not exceed $50\%$ of the Social Security benefits received.

c$.$ Is computed in the same manner as an annuity $[$exclusion $=($cost$/$expected return$)$ amount received$].$

d$.$ May not exceed the portion contributed by the employer.

of the payments.

c$.$ The payments must be in cash.

d$.$ The payments must cease upon the death of the payee.

a$.$ A person who receives a property division has experienced an increase in wealth and thus should be subject to tax.

b$.$ To determine whether a cash payment is alimony, one must consult the state laws that define alimony.

c$.$ Alimony paid per a $2016$ divorce agreement is included in the gross income of the recipient of the payments.

d$.$ A person who earns $$90,000$ and pays $$20,000$ in alimony per a divorce agreement entered into in $2022,$ is allowed to deduct the $$20,000.$

a$.$ A person who receives a property division has experienced an increase in wealth and thus should be subject to tax.

b$.$ To determine whether a cash payment is alimony, one must consult the state laws that define alimony.

c$.$ Alimony paid per a $2016$ divorce agreement is included in the gross income of the recipient of the payments.

d$.$ A person who earns $$90,000$ and pays $$20,000$ in alimony per a divorce agreement entered into in $2022,$ is allowed to deduct the $$20,000.$

a$.$ Bob must include all of the dividend in his gross income.

b$.$ Dave must include all of the dividend in his gross income.

c$.$ Bob must include $$1,000(10/12$ x $$1,200)$ of the dividend in his gross income.

d$.$ Dave should treat the $$1,200$ as a recovery of capital.