Which of the following is an exclusion from gross income? a. Separation payment as a consequence of termination because of the pandemic. b. Payment of backwages to a separated employee c. Commutation of accumulated unused leave credits d. All of the above e. None of the above

Which of the following is an exclusion from gross income? a. Separation payment as a consequence of termination because of the pandemic. b. Payment of backwages to a separated employee c. Commutation of accumulated unused leave credits d. All of the above e. None of the above

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter9: Deductions: Employee And Self- Employed-related Expenses

Section: Chapter Questions

Problem 50P

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Question

Which of the following is an exclusion from gross income?

a. Separation payment as a consequence of termination because of the pandemic.

b. Payment of backwages to a separated employee

c. Commutation of accumulated unused leave credits

d. All of the above

e. None of the above

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