2. Which of the following is not taxable for income tax purpose?A. Prizes b. Severance pay c. Gift d. Partnership income.3. All of the following items are taxable to the taxpayer receiving them, except:A. Life insurance proceeds b. Unemployment compensation c. Embezzled funds d. Prizes e. Gambling winnings.4. Which of the following types of income is tax exempt?A. Unemployment compensation b. Income earned illegally c. Dividends from foreign corporations d. Municipal bond interest e. Dividends from utility corporations' stock.5.which of the following is included in gross income?A. Loans b.scholarships for room and board c. Worker's compensation d. Health insurance proceeds e. None of the above6. Nomi is in the highest individual tax bracket and receives $500 in qualified dividends from omega corp. Nomi's tax liability (not including any net investment income tax) with respect to these dividends is:A.$0 b.$227.20 c.$100 d.$75 e. $507. Rebecca, a single taxpayer, owns a Series 1 U.S Savings Bond that increased in value by $46 during the year. She makes no special election. How much income must Rebecca recognize this year?A. $0 b.$46 c.$23 d. $0 if in first 5 years or $46 thereafter.8. Hilary gets divorced in 2016 and is required to pay her ex-spouse $200 per month until her son reaches 18 years of age in 7 years and $120 per month thereafter. How much of her 2017 payments are deductible as alimony?A. $0 b. $2400 c. $1440 d.$9609. Ivanka and jared are divorced in the current year. As part of the divorce settlement, Ivanka transfers a plot of land in Long Island, NY to jared. Ivanka's basis in the property was $20,000 and the market value of the property was $250,000 when transferred. Jared holds the property through the end of the year and in hopes of building a residence on it. How much income do ivanka and jared recognize in the current year?A. $0 for ivanka and 20000 for jared B. 230000 for ivanka and 20000 for jaredC. 230000 for ivanka and 0 for jaredD. 0 for bothE. 0 for ivanka and 250000 for jared.And question number 10 and 11.