One type of imputed income that always escapes taxation is
A. Bargain purchases by employees.
B. Value of growing one’s own vegetables for personal consumption.
C. Payment of personal expenses by a corporation in which stock is owned.
D. Interest free loan from parents.
Answer:B
One type of imputed income that always escapes taxation is
A. Bargain purchases by employees. B. Value of growing one’s own vegetables for personal consumption. C. Payment of personal expenses by a corporation in which stock is owned. D. Interest free loan from parents.