In December 2018, Emily, a Cash Basis Taxpayer, Received a $2,500

question 20

True/False

In December 2018, Emily, a cash basis taxpayer, received a $2,500 cash scholarship for the Spring semester of 2019. However, she did not use the funds to pay the tuition until January 2019. Emily can exclude the $2,500 from her gross income in 2018.

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Definitions:

Turtle's Shell

A hard, protective outer layer covering the back of the turtle, which acts as a shield against predators and environmental hazards.

Calcium

A chemical element with symbol Ca, an essential nutrient for living organisms, especially in cell physiology and bone formation.

Bad Argument

Refers to a line of reasoning that is flawed either through logical fallacies, lack of evidence, or faulty premises.

Conclusion

The final part of something, such as an argument or text, summing up the points or deriving a decision based on the preceding information.