What is the treatment of disability pension income? Choose one answer. a. None of these b. Not taxable c. Taxable as a pension or annuity d. Taxable as wages e. Taxable as wages until the employee reaches minimum retirement age and as a pension or annuity after the employee reaches minimum retirement age.
What is the treatment of disability pension income? Choose one answer. a. None of these b. Not taxable c. Taxable as a pension or annuity d. Taxable as wages e. Taxable as wages until the employee reaches minimum retirement age and as a pension or annuity after the employee reaches minimum retirement age.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![21
What is the treatment of disability pension income?
Choose one
answer.
Betty earned interest of $430 on a savings account and $90 on a checking account. The $90 was withdrawn, but the
$430 was left in the savings. How much interest income must Betty report on her return?
Choose one
answer.
a. None of these
b. Not taxable
c. Taxable as a pension or annuity
d. Taxable as wages
e. Taxable as wages until the employee reaches minimum retirement age and as a pension or annuity after
the employee reaches minimum retirement age.
10
a. $430
b. None of these
c. $520
d. $0
e. $90](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbddb4cdf-9551-45b9-bc52-bfc5a12ad6b5%2F98623805-078c-4cb3-926b-9bc682eaa6d6%2F35zpjeu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:21
What is the treatment of disability pension income?
Choose one
answer.
Betty earned interest of $430 on a savings account and $90 on a checking account. The $90 was withdrawn, but the
$430 was left in the savings. How much interest income must Betty report on her return?
Choose one
answer.
a. None of these
b. Not taxable
c. Taxable as a pension or annuity
d. Taxable as wages
e. Taxable as wages until the employee reaches minimum retirement age and as a pension or annuity after
the employee reaches minimum retirement age.
10
a. $430
b. None of these
c. $520
d. $0
e. $90
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