Bart, a Single Taxpayer, Has Recently Retired

question 89

Multiple Choice

Bart, a single taxpayer, has recently retired. This year, he received $24,000 in pension payments and $5,000 of social security payments. What amount must Bart include in his gross income for the social security payments?

• A) $4,250
• B) $2,500
• C) $1,500
• D) $750
• E) Zero

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Definitions:

Tire Pressure Monitoring Systems (TPMSs)

Electronic systems designed to monitor the air pressure inside the pneumatic tires on various types of vehicles, alerting the driver when tire pressure is low.

Built-in Levels

Features integrated into tools or devices that allow for the measurement of alignment or balance, typically through the use of a liquid-filled vial with an air bubble.

Oil Pressure Sending Unit

A sensor that measures the oil pressure in an engine, sending the data to a gauge or warning light on the dashboard.

Ground Circuit

An electrical circuit that provides a path for current to return to the earth, used for safety and to prevent undesired current paths.