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29 January, 02:52

Green is self-employed as a human resources consultant and reports on the cash basis for income tax purposes. Select the appropriate tax treatment on Form 1040 (U. S. Individual Income Tax Return) for interest income received on U. S. Treasury bonds.

A. Taxable as other income on Form 1040

B. Reported in Schedule B, Interest and Dividend Income

C. Reported in Schedule E, Supplemental Income and Loss

D. Not taxable

Answers (1)
  1. 29 January, 03:26
    Taxable as other income on Form 1040 is the tax treatment on Form 1040.


    You can get pay as cash, property, or administrations. This segment examines numerous sorts of pay that are assessable or nontaxable. It remembers talks for representative wages and incidental advantages, and pay from dealing, associations, S companies, and eminences.

    The data on this page ought not be translated as comprehensive. Different steps might be suitable for your particular kind of business. By and large, a sum remembered for your pay is assessable except if it is explicitly excluded by law.

    Pay that is assessable must be accounted for on your arrival and is liable to impose. Salary that is nontaxable may must be appeared on your expense form however isn't assessable. A rundown is accessible in Publication 525, Taxable and Nontaxable Income.
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