1. Which of the following is included in gross income?

1. Alimony received
2. Interest received from municipal bonds
3. Life insurance death benefits received
4. Child support payments received

According to textbook, I know it is definitely not choice 2 or choice 4.

In determining gross income, the taxpayer may exclude many different types of income received. Some of the more common types of income that may be excluded are as follows: Most retirement plan salary deferrals Accident insurance proceeds Bequests received Child support payments received Certain employee fringe benefits Gain on the sale of a personal residence (limited) I Gifts received Group term life insurance premiums paid by an employer (limited) Interest received from municipal bonds Life insurance proceeds received (unless the policy is subject to transfer for value rules) Meals and lodging (furnished for the convenience of the employer on the employ- er's premises) Scholarship grants (for tuition and books of a degree candidate) | Workers' compensation