Which of the following is not a necessary condition for income to be included in gross income?
A) income must be made available to a taxpayer on the cash basis.
B) income cannot be excluded by law.
C) income must be realized.
D) income must be paid in cash.
E) All of the choices are correct.
Correct Answer:
Verified
Q43: U.S. citizens generally are subject to tax
Q53: Sally is a cash basis taxpayer and
Q55: Identify which of the items below help
Q58: Identify the rule that determines whether a
Q59: Loretta received $6,200 from a disability insurance
Q59: Identify the rule that states that income
Q60: To provide relief from double taxation, Congress
Q60: Hillary is a cash-basis calendar-year taxpayer. During
Q61: Fran purchased an annuity that provides $12,000
Q62: This year Henry realized a gain on
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents