Question
If a single taxpayer with a marginal tax rate of 37% has a long term capital gain, it is taxed at A. 15% B. 20%
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If a single taxpayer with a marginal tax rate of 37% has a long term capital gain, it is taxed at
A. 15%
B. 20%
C. 0%
D. 10%
2. Which of the following items is NOT considered gross income for tax purposes
| A. | cash dividends | |
| B. | face amount of life insurance received due to the death of the insured | |
| C. | gambling winnings | |
| D. | illegal income |
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Accounting Principles Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
8th Canadian Edition
978-1119502425
