During 2008,Lincoln Masters received income dividends of $850 and capital gain distributions of $540.Based on this information:
A) both amounts must be included as taxable income.
B) only the dividends are taxable.
C) only the capital gains are taxable.
D) both amounts are tax-exempt.
E) both amounts are taxed at a rate of 5 percent.
Correct Answer:
Verified
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A)exempt
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