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Select the correct answer. Which of these is not considered for deduction of federal income tax? A. interest earned from state bonds B. earnings from commission C. earnings from tips or bonus D. income from awards and prizes

User Jfadich
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2 Answers

4 votes

Answer:

A

Step-by-step explanation:

User Grabbag
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3 votes

Answer:

The correct answer is (a)

Step-by-step explanation:

According to the federal laws earnings from awards or prizes, earning from commission and income form bonus or tips are not exempted from the federal income tax. Likewise, interest earned from state bonds is exempted from federal income tax. IRS the internal revenue service interest in government or federal obligations are not considered for deduction of federal income tax.

User Edwardr
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