Fundamentals of Taxation
Quiz 3: Gross Income: Inclusions and Exclusions
Banks and Credit Unions Report Interest Income to Taxpayers on Form
Banks and credit unions report interest income to taxpayers on Form 1099-INT.
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When an individual's marginal ordinary income tax rate is 25% and less than 39.60%, the taxation rate on qualified dividends is 15%.
Payments received by a taxpayer for unemployment compensation are not taxable.
If an employee receives a prize or award from his or her employer, the award is included in W-2 income.
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