Which of the following is an example of gross income for, Ask an Expert

Accounting

Which of the following is an ex of Gross Income for Income Tax purposes being different from Gross Income for Financial Statements?

a. Illegal income is treated different

b. Rental income received by a US citizen on property situated in a foreign country is not subject to US taxation.

c. Interest Income from US bonds is not included in taxable income

d. Interest Income from State issued bonds is not included in taxable income

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M953433

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