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A. All of the following represent a type or character of income EXCEPT: A) Ordinary. B) Non-Ordinary. C) Imputed. D) Qualified dividend. E) Passive B.
A. All of the following represent a type or character of income EXCEPT: A) Ordinary. B) Non-Ordinary. C) Imputed. D) Qualified dividend.
E) Passive
B. Which of the following statements is CORRECT regarding income?
A) Income character determines the tax year in which the income is taxed. B) Income character depends on the taxpayer's filing status. C) Qualified dividend income is taxed at a lower rate than an equal amount of ordinary income. D) A taxpayer selling a capital asset at a gain recognizes ordinary income.
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