Green is self-employed as a human resources consultant and reports on the cash basis for income tax purposes. Listed below are Green's Year 2 business and non-business transactions, as well as possible tax treatments. Required: For each of Green's transactions, select the appropriate tax treatment. A tax treatment may be selected once, more than once, or not at all. Transactions Retainer fees received from clients. Oil royalties received. Interest income on general obligation state and local government bonds. Interest on refund of federal taxes. Death benefits (received in a lump sum) from term life insurance policy on parent. Interest income on U.S. Treasury bonds. Share of ordinary income from an investment in a limited partnership reported in Form 1065, Schedule K-1. Taxable income from rental of a Tax Treatment Click to select !!!! !!!

Green is self-employed as a human resources consultant and reports on the cash basis for income tax purposes. Listed below are Green's Year 2 business and non-business transactions, as well as possible tax treatments. Required: For each of Green's transactions, select the appropriate tax treatment. A tax treatment may be selected once, more than once, or not at all. Taxable income from rental of a townhouse owned by Green. Prize won as a contestant on a TV quiz show. Payment received for jury service. Dividends received from mutual funds that invest in tax-free government obligations. Qualifying medical expenses not reimbursed by insurance. Personal life insurance premiums Aaid by Green. Expenses for business-related meals in a restaurant where clients were present. Assume this is not considered an entertainment expense. Depreciation on personal computer purchased in Year 2 used for business. Business lodging expenses, while out of town. \begin{tabular}{l} Subscriptions to professional journals \\ used for business. \\ \hline Self-employment taxes paid. \\ Qualifying contributions to a simplified \\ employee pension plan. \\ \hline \begin{tabular}{l} Election to expense business equipment \\ purchased in Year 2. \end{tabular} \\ \hline \begin{tabular}{l} Alimony payments made by Green to his \\ ex-wife, whom he divorced during the \\ current year (post 2018 ). \end{tabular} \\ \hline \begin{tabular}{l} Subscriptions for investment-related \\ publications. \end{tabular} \\ \hline \begin{tabular}{l} Interest expense on a home-equity line of \\ credit for an amount borrowed to finance \\ Green's business. \end{tabular} \\ \hline \begin{tabular}{l} Interest expense on a loan for an auto \\ used 75% for business. \end{tabular} \\ \hline \begin{tabular}{l} Loss on sale of residence. \\ \hline \end{tabular} \end{tabular}