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Which of the following items are exclusions from gross income? Select all that apply. a. Alimony payments received b. Damages award received by the taxpayer
Which of the following items are exclusions from gross income? Select all that apply.
a. | Alimony payments received | |
b. | Damages award received by the taxpayer for personal physical injury - none were punative damages. | |
c. | A new golf cart won in a church raffle | |
d. | Amount collected on a loan previously made to a college friend | |
e. | Insurance proceeds paid to the taxpayer on the death of her uncle - she was the designated beneficiary under the policy. | |
f. | Interest income on City of Chicago bonds |
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