Ch5V1TB - CHAPTER 5 GROSS INCOME EXCLUSIONS Instructor The...

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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 eas- ily preview their selections using the printed Test Bank in the same numbering system. Status: Q/P Question/ Present in Prior Problem Topic Edition Edition TRUE OR FALSE 1 Value of exemption from tax New 2 Executor fees New 3 Gift versus compensation New 4 Life insurance and taxable bonds Unchanged 5 Life insurance and interest New 6 Life insurance Unchanged 6 7 Life insurance: terminally ill Unchanged 7 8 Life insurance: terminally ill Unchanged 8 9 Scholarships Unchanged 9 10 Scholarships Unchanged 10 11 Scholarships Unchanged 11 12 Scholarships New 13 Scholarships: graduate teaching assistantships New 14 Damages Unchanged 14 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 New 19 Health savings accounts (HSAs) Unchanged 19 20 Long-term care insurance Unchanged 20 21 Meals and lodging Unchanged 21 22 Meals and lodging Unchanged 22 23 Flexible spending plans New 24 De minimis fringe New 25 Other employee benefits Unchanged 25 26 Qualified transportation fringe Unchanged 26 27 Foreign earned income Unchanged 27 28 Foreign earned income Unchanged 28 29 Tax-exempt income Unchanged 29 30 Tax benefit rule Unchanged 30 31 Tax benefit rule Unchanged 31 32 Qualified tuition program Unchanged 32 33 Qualified tuition program Unchanged 33 5-1
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5-2 2009 Annual Edition/Test Bank 34 Income from discharge of indebtedness Unchanged 34 Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 35 Income from discharge of indebtedness Unchanged 35 36 Income from discharge of indebtedness Unchanged 36 MULTIPLE CHOICE 1 Value of exemption from tax New 2 Gross income Unchanged 2 3 Gift versus compensation Unchanged 3 4 Life insurance Unchanged 4 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 Unchanged 8 9 Accelerated death benefits New 10 Scholarships Unchanged 10 11 Scholarships, loans, and prizes New 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 New 23 Accident and health insurance Unchanged 23 24 Health savings accounts (HSAs) New 25 Employee’s group hospitalization insurance Unchanged 25 26 Employee’s group hospitalization insurance Unchanged 26 27 Accident and health insurance, miscellaneous Unchanged 27 28
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Ch5V1TB - CHAPTER 5 GROSS INCOME EXCLUSIONS Instructor The...

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