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Question : Q11. All of the following items taxable to the taxpayer

Q11. All of the following items are taxable to the taxpayer receiving them, except:

a. Bonuses

b. Damages for physical personal injury

c. Unemployment compensation

d. Prizes

e. Gambling winnings

Q12. Which of the following types of income is tax free?

a. Welfare payments

b. Income earned illegally

c. Dividends from foreign corporations

d. Dividends from closely held corporations

e. Dividends from utility corporations’ stock

Q13. Which of the following is included in gross income?

a. Loans

b. Inheritances

c. Tuition and books scholarships

d. Hobby income

e. None of the above

Q14. Which of the following items would be includable in the gross income of the recipient?

a. Insurance payments for medical care of a dependent child

b. Insurance payments for loss of the taxpayer’s sight

c. Season tickets given by a salesperson to a customer

d. Interest from bonds issued by the state of Texas

e. Lodging provided to a worker on a remote oil rig

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