TB Individual Income ch. 05

TB Individual Income ch. 05 - CHAPTER 5 GROSS INCOME:...

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CHAPTER 5 GROSS INCOME: EXCLUSIONS Instructor: The test items in both the print Test Bank and ExamView test-creation software are numbered by question type within each chapter. Thus, users of ExamView can more easily pre- view their selections using the printed Test Bank in the same numbering system. Learning Objective, Level of Difficulty, Estimated Time to Completion, and the AACSB’s and AICPA’s Core Competencie s for each test item are located within the item itself. Status: Q/P Question/ Present in Prior Problem Topic Edition Edition TRUE OR FALSE 1 Value of exemption from tax Unchanged 1 2 Executor fees New 3 Gift versus compensation New 4 Life insurance and taxable bonds Unchanged 4 5 Life insurance and interest Unchanged 5 6 Life insurance Unchanged 6 7 Life insurance: terminally ill New 8 Life insurance: terminally ill Unchanged 8 9 Scholarships Unchanged 9 10 Scholarships Unchanged 10 11 Scholarships Unchanged 11 12 Scholarships Unchanged 12 13 Scholarships: graduate teaching assistantships Unchanged 13 14 Damages and tax benefit rule New 15 Worker’s compensation Unchanged 15 16 Worker’s compensation; unemployment Unchanged 16 compensation 17 Accident and health insurance Unchanged 17 18 Accident and health insurance Unchanged 18 19 Health savings accounts (HSAs) New 20 Long-term care insurance Unchanged 20 21 Meals and lodging Unchanged 21 22 Meals and lodging Unchanged 22 23 Flexible spending plans Unchanged 23 24 De minimis fringe Unchanged 24 25 Other employee benefits Unchanged 25 26 Qualified transportation fringe New 27 Foreign earned income New 28 Foreign earned income Unchanged 28 29 Tax-exempt income New 5-1
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5-2 2010 Annual Edition/Test Bank Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 30 Tax benefit rule Unchanged 30 31 Tax benefit rule Unchanged 31 32 Qualified tuition program Unchanged 32 33 Qualified tuition program New 34 Income from discharge of indebtedness Unchanged 34 35 Income from discharge of indebtedness New 36 Income from discharge of indebtedness Unchanged 36 MULTIPLE CHOICE 1 Value of exemption from tax Unchanged 1 2 Gross income Unchanged 2 3 Gift versus compensation Unchanged 3 4 Life insurance New 5 Life insurance Unchanged 5 6 Life insurance: key person insurance Unchanged 6 7 Life insurance: required by creditor Unchanged 7 8 Accelerated death benefits New 9 Accelerated death benefits Unchanged 9 10 Scholarships Unchanged 10 11 Scholarships, loans, and prizes Unchanged 11 12 Scholarships Unchanged 12 13 Scholarships Unchanged 13 14 Scholarships versus compensation Unchanged 14 15 Scholarships: graduate assistant compensation Unchanged 15 16 Damages Unchanged 16 17 Damages New 18 Damages, worker’s compensation, accident and Unchanged 18 health insurance 19 Damages: discrimination Unchanged 19 20 Damages: personal reputation Unchanged 20 21 Punitive damages Unchanged 21 22 Accident and health insurance Unchanged 22 23 Accident and health insurance Unchanged 23 24 Health savings accounts (HSAs)
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This note was uploaded on 03/06/2011 for the course ECON 435 taught by Professor Galven during the Spring '11 term at Ill. Chicago.

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TB Individual Income ch. 05 - CHAPTER 5 GROSS INCOME:...

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