True or False 1. if an individual receives a distribution of taxable stock right, the basis of the right will be their market value. 2. A cash basis taxpayer who writes off a $400 account receivable as a bad debt may claim a deduction on Form 1040 in the year of the write-off 3. Dividends in excess of the cumulative amount of net premiums paid on a fully paid up life insurance policy generally are included in gross income of the policy holder