Indicate Whether Each of the Items Listed Below Would Be

question 108

Multiple Choice

Indicate whether each of the items listed below would be (a) included in gross income or (b) excluded from gross income for the 2019 tax year.
-Municipal bond interest

• A)Included
• B)Excluded

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Definitions:

Plant-rich Swamp

An ecosystem characterized by saturated ground and abundant plant life, often found in low-lying areas.

Sedimentary Rock

Rock formed by the accumulation or deposition of mineral and organic particles at the Earth's surface, followed by compaction and cementation.

Iron Formation

A rock composed of millimeter- to centimeter-thick layers of iron-bearing minerals, especially iron oxide, commonly with quartz.

Gypsum Formation

A geological process leading to the creation of gypsum, a mineral used in building materials and fertilizers, through the evaporation of mineral-rich water.