Why taxpayer be interested in character of income received

Assignment Help Taxation

Reference no: EM13905668

1. How are realized income, gross income, and taxable income similar, and how are they different?

2. Are taxpayers required to include all realized income in gross income? Explain.

3. All else being equal, should taxpayers prefer to exclude income or to defer it? Why?

4. Why should a taxpayer be interested in the character of income received?

Reference no: EM13905668

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