Bart,a Single Taxpayer,has Recently Retired

question 24

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:

Dams

Structures built across rivers or streams to control the flow of water for the purposes of water storage, flood prevention, irrigation, and hydroelectric power generation.

Wetlands

Ecosystems characterized by the presence of standing water, which support a diverse range of plant and animal life and provide critical ecological services.

Southern Ontario

A region of the Canadian province of Ontario, located in the southernmost part of the country, known for its dense population and significant industrial activity.

Wetlands

Areas where water covers the soil, either year-round or for varying periods of time throughout the year, including marshes, swamps, and bogs, important for biodiversity and flood control.