Which of the following are people required to report on income tax forms?
A)nominal interest earnings
B)real interest earnings
C)real capital gains
D)expected inflation

Question

Quizplus · Accepted Answer

Nominal interest earnings are reported on income tax forms because they represent the actual interest income received, regardless of inflation. Real interest earnings and real capital gains are adjusted for inflation and not directly reported. Expected inflation is not reported as it is a forecast, not actual income.

Which of the Following Are People Required to Report on Income