Fifteen true$-$false statements appear below. You must answer all of them. For each statement, insert $"$T$"$ or $"$F$"$ in the appropriate place on the separate answer sheet.

As a general rule, dividend income classified as "ordinary' will be taxed on Form $1040$ at a lower marginal income tax rate than "qualified" dividend income would be taxed.

A payment for damages caused by emotional distress not associated with a physical injury is excluded from the recipient's gross income for federal income tax purposes.

A stock distribution classified as a distribution on preferred stock will generally represent taxable income to the individual receiving the stock.

A taxpayer who receives an amount in payment of a settlement or judgment for back pay must include the amount of the payment in gross income on Form $1040.$

A taxpayer employed by a retail establishment, such as Walmart or Home Depot, may exclude the value of an employee discount, although the exclusion amount is limited to $20\%$ of the company's normal gross profit percentage.

Since they are not subject to an entity level federal income tax, partnerships are not required to file an annual federal income tax return.

A retired minister of the gospel may exclude the rental value of a home furnished by his$/$her church.

Receipt of a refundable security deposit by a landlord is not classified as taxable gross income at the time of its receipt.

A Form $1040$ exclusion from gross income exists for reimbursements of qualifying medical costs incurred and paid by the employee pursuant to the employee$-$recipient's qualified accident and health plan.

A taxpayer who receives a cash payment from passengers for driving an automobile in a carpool to and from work must include the payment amount as gross income on the taxpayer's Form $1040.$

Debt forgiveness will be classified as taxable gross income for federal income tax purposes only if the debt discharge arises during a Title Eleven bankruptcy proceeding.

Interest on U$.$S$.$ obligations issued by an agency or instrumentality of the United States $($U$.$S$.$ Treasury bills, for example$)$ is included in gross income on the recipient's Form $1040.$

An annuity inclusion amount percentage is computed by dividing the cost of the annuity contract by the expected return over the life of the annuity contract.

The value of meals provided by an employer to an employee may be excluded by the employeerecipient only if the meals were provided for the convenience of the employes.