Mastering the Basics of Income

Dividends received from stocks (correct)

Interest paid on bank loans

Rent received from leasing a condo unit

Salaries received by call center agents

There must be gain; it must be realized or received; it must not be exempted by law (correct)

There must be gain; it must be realized or received; it must be exempted by law

There must be loss; it must be realized or received; it must not be exempted by law

There must be gain; it must be unrealized or unreceived; it must not be exempted by law

It depends on the duration of the loan

It depends on the amount borrowed

Yes, there is taxable gain

No, there is no taxable gain (correct)

<p>Yes, the interest is considered taxable income</p> Signup and view all the answers

<p>The source of income</p> Signup and view all the answers