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taxable earned income includes which of the following? A.Interest and dividends B. unemployment benefits C. alimony...

taxable earned income includes which of the following?

A.Interest and dividends
B. unemployment benefits
C. alimony
D. tips
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Answer #1

Two ways a taxpayer makes earned income which is taxable. These are either to work for someone which pays the taxpayer or taxpayer owns or run a business. As per IRS provisions, following shall be included in the taxable earned income:

a. Wages, salaries and tips

b. Union strike benefits

c. Retirement benefits on account of disability

d. Net earnings from employment.

Unemployment benefits, alimony and interest and dividends are not taxable earned income while tips is among those.

Hence, correct option is D.Tips

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