select the correct answer. which of these types of income is taxed? a. federal tax refunds b. interest on…
select the correct answer. which of these types of income is taxed? a. federal tax refunds b. interest on savings account c. interest from municipal bonds
Answer
Brief Explanations:
Federal tax refunds are not income and not taxed. Interest from municipal bonds is generally tax - exempt at the federal level. Interest on savings accounts is considered taxable income.
Answer:
B. interest on savings account