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Clay is preparing his federal income tax return. Which of the following items should be included in Clay's gross income? Rental payments made to Clay
Clay is preparing his federal income tax return. Which of the following items should be included in Clay's gross income?
Rental payments made to Clay by tenants living in a house that Clay owns.
Interest earned on several municipal bonds that Clay bought five years ago.
$10,000 that Clay received as a gift from his favorite aunt.
Child support payments paid to Clay by his ex-wife.
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