Question

____ would be considered taxable income. Question 21 options: An inheritance from your grandmother's estate A gift from your aunt Child support payments Alimony received A tuition scholarshi

Answer 1

Alimony received would be considered taxable income.

Explanation:

Taxable income is defined as the amount taken into account for computing tax for the person or organization. This is the amount an individual or a company owes to the government in a given tax year.

A tax is an amount that is charged on a person or organization to contribute to state revenue. It is responsibility of the citizen to pay their taxes on time.

From the given choices: alimony received is the taxable income. Alimony is the legal obligation for financial support made by a person to their spouse after getting divorce.