taralynmoore taralynmoore
  • 03-02-2020
  • Business
contestada

Which of these is not considered for deduction of federal income tax?

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knowledgepower50
knowledgepower50 knowledgepower50
  • 10-02-2020

Answer:

A. interest earned from state bonds

Explanation:

Since this is about the federal level tax, and the bonds in the statement are state bonds, they are not taxable at federal level. Everything mentioned in other examples (prizes, awards, commisions...) is taxable, no matter if it goes into earned or non-earned income.

However, these bonds can be taxable at state level, but that is irrelevant for this question.

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queenava4l
queenava4l queenava4l
  • 07-10-2021

Answer:

A

Explanation:

I got it right on my test.

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