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Ulleksa [173]
3 years ago
15

All of the following should generally be included as taxable income on Schedule 1 (Form 1040), line 21, EXCEPT: Reimbursement re

ceived for medical expenses deducted in a prior tax year. Life insurance proceeds received after the death of a spouse. Taxable portion of a disaster relief payment. Dividends exceeding net premiums paid on an insurance policy.
Business
1 answer:
Lapatulllka [165]3 years ago
7 0

Answer:

Answer is Option 2: Life insurance proceeds received after the death of a spouse.

Explanation:

Life insurance proceeds are generally not taxable. They are paid after insurer's death. It would only be taxable if the policy was given to the spouse for a price. Even if proceeds are paid under accidental policy or health insurance policy, they are not taxable. Proceeds are always paid as a lump sum amount and not in installments.

Other given options, 1, 3 and 4 like reimbursement for medical expenses, taxable portion of a disaster relief payment and dividends exceeding net premiums paid are taxable.

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Answer:

An investment firm or fund is a partnership, trust or corporation that “pools” money from shareholders and invests it in the appropriate security instruments and multiply investment money.

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3 years ago
The largest cattle rancher in a given region will be unable to have a __________ when sufficient numbers of smaller cattle ranch
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7 0
3 years ago
7. Which of the following is NOT a function of money * 3 points A Unit of account B Store of value C Protection against inflatio
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Answer:

C Protection against inflation

Explanation:

As we know that there are three functions of money i.e.

1. Unit of account

2. Store of value

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5 0
3 years ago
What minimum amount of body weight loss (lbs) is shown to improve physical capabilities and quality of life?
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3 years ago
Finish Co. uses the allowance method to account for bad debts. At the end of 2010, Finish Co.'s unadjusted trial balance shows a
Nana76 [90]

Answer:

The answer is: D) $5,800

Explanation:

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