Taxpayers Need Not Include an Income Item in Gross Income

question 63

True/False

Taxpayers need not include an income item in gross income unless there is a specific tax provision requiring the taxpayer to include the income item in gross income.

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Definitions:

Chordae Tendineae

Heart strings that connect the papillary muscles of the heart to the tricuspid and mitral valves, facilitating valve function.

Tricuspid Valve

A valve in the heart that lies between the right atrium and the right ventricle, preventing backflow of blood.

Aortic Valve

A valve in the heart between the left ventricle and the aorta that prevents blood from flowing back into the ventricle after it has been pumped out.

Coronary Sinus

A large vein on the posterior side of the heart that collects blood from the heart muscle (myocardium) and returns it to the right atrium.