Which is FALSE? S1 – All income is taxable. S2 – All exclusions from gross income are exempted. S3 – All passive income subjected to final tax are not items of gross income S4 – All income exempted by law or treaty are exempted from income tax Group of answer choices a. S1 c. S3 d. S4 b. S2
Which is FALSE? S1 – All income is taxable. S2 – All exclusions from gross income are exempted. S3 – All passive income subjected to final tax are not items of gross income S4 – All income exempted by law or treaty are exempted from income tax Group of answer choices a. S1 c. S3 d. S4 b. S2
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 33MCQ
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26.
Which is FALSE?
S1 – All income is taxable.
S2 – All exclusions from gross income are exempted.
S3 – All passive income subjected to final tax are not items of gross income
S4 – All income exempted by law or treaty are exempted from income tax
Group of answer choices
a. S1
c. S3
d. S4
b. S2
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