Ask Question
BusinessBusiness
15 November, 21:19

Which of these is not considered for deduction of federal income tax?

+1
Answers (1)
  1. 15 November, 23:36
    0
    A. interest earned from state bonds

    Explanation:

    Since this is about the federal level tax, and the bonds in the statement are state bonds, they are not taxable at federal level. Everything mentioned in other examples (prizes, awards, commisions ...) is taxable, no matter if it goes into earned or non-earned income.

    However, these bonds can be taxable at state level, but that is irrelevant for this question.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Which of these is not considered for deduction of federal income tax? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Mathrans, a textile firm, wants to hire two costume designers for a new movie project. To precisely determine the future job performance of the job applicants, the company makes them take a test that assesses their sense of color and design,
Answers (1)
In a process costing system, the calculation of equivalent units is used for calculating the dollar amount of ending inventory the dollar amount of the cost of goods sold for the accounting period the dollar cost of a particular job Both A and B are
Answers (1)
What does the graph of 4 < n + 6 < 9 look like?
Answers (1)
Compared to earning a four-year degree, a technical certification allows you to
Answers (1)
Which of the following would indicate a relatively large amount of market power? Select one: a. Highly price elasticity demand b. Low cross-price elasticity with other products c. Low Lerner index
Answers (1)
New Questions in Business
Which statement is descriptive of the long run rather than the short run? The firm must pay an electric bill that varies each month as well as a mortgage payment of $10,000 per month.
Answers (1)
When builders were constructing a sidewalk they forgot to include an expansion joint between two of the?
Answers (1)
Included in Waterway Company's December 31, 2017, trial balance are the following accounts: Accounts Payable $221,600, Pension Liability $384,400, Discount on Bonds Payable $32,700, Unearned Rent Revenue $41,100, Bonds Payable $400,600, Salaries and
Answers (1)
The law of increasing opportunity costs is a result of the fact that: a. A) the value of the dollar has declined over time. b. B) wage rates rise as the economy reaches full employment. c.
Answers (1)
A company has beginning inventory of 11 units at a cost of $29 each on February 1. On February 3, it purchases 39 units at $31 each. 17 units are sold on February 5.
Answers (1)
Home » Business » Which of these is not considered for deduction of federal income tax?
Sign Up Forgot Password?