Which of these assets is considered an exception as it relates to capital gains and losses?

1.. Inventory

2. Stocks

3. A personal-automobile

4.Gold

Which of the following is excluded from gross income?

Rents

Scholarships for books

Hobby income

Clergy fees

Malay, a 50-year-old single taxpayer, paid the full cost of maintaining his dependent mother in a home for the aged for the entire year. What is the amount of Malay's standard deduction for 2022?

$12,950

$19,400

$21,150

$25,900

Partnership income is reported on _____.

Form 1040 PTR

Form 1120S

Form 1040X

Form 1065

In 2022, Wesley has a fairly simple tax situation with moderate wage income and a modest amount of interest income. Wesley, age 45, wishes to use the easiest possible tax form. He may file which of the following?

Form 1040-EZ

Form 1040-SR

Form 1040

Form 1065

Which of the following is generally excluded from gross income?

Group of answer choices

Dividends

Rewards

Life insurance proceeds

Retirement pay