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Under which of the following circumstances would a gift most likely be excludable from income under Section 102? Question 1Answer When it is a gift
Under which of the following circumstances would a gift most likely be excludable from income under Section 102? Question 1Answer When it is a gift only of income on a piece of property, rather than the property itself When it is a gift from an employer to an employee When it is a gift between business associates who have a mutually beneficial financial relationship When it is a gift from one family member to another None of the above gifts would likely be excludable from income
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