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Which of the Following Items Is Not Taxable

Question 76

Multiple Choice

Which of the following items is not taxable?


A) Interest on U.S. Treasury bills, notes, and bonds issued by an agency of the United States
B) Interest on federal income tax refund
C) Interest on New York State bonds
D) Discount income in installment payments received on notes bought at a discount
E) Amount received from a condemning authority to compensate for a delay in paying an award

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