Schedule E of Form 1040

question 30

Multiple Choice

Schedule E of Form 1040:

• A) reports the amount of tax-exempt income an individual has.
• B) reports any income from rental property.
• C) reports common expenses that businesses and farms incur.
• D) reports the gains or losses from the sale of capital assets.
• E) lists the sources of interest income and dividend income.

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Definitions:

Political System

The system of government by which a country or community is governed.

Checks And Balances

A system in which the different parts of an organization or government have powers that affect and control the other parts so that no part can become too powerful.

Thomas-Kilman Conflict Model

A model that outlines five conflict-handling modes to assess how individuals deal with conflicts: avoiding, accommodating, competing, compromising, and collaborating.

Competitor

An individual or organization that is a rival against others in the same industry or field, striving for the same goals such as market share.