Income Tax

19)

Reduced tax rates apply to dividends known as

"qualified dividends."

True / False

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20)

The taxpayer's basis in the bond increases by the

amount of OID included in gross income.

True/ false

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21)

To be considered alimony, the payments must meet

certain conditions. Which of the following is not one

of the conditions?

Payments must stop when the recipient

dies

Payments are not for child support

The two parties may not live in the same

household

Payments may be in cash or property

None of the above