2014 (Taxation) Bar Exam Questions: Question 10

[Answer / discuss the question below. Or see 2014 bar exam Taxation Instructions; 2014 Taxation essay and multiple choice Questions: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28 and 29; See also 2014 Bar Exam: Information, Discussions, Tips, Questions and Results]

X.

Which of the following is an exclusion from gross income? (1%)

(A) Salaries and wages

(B) Cash dividends

(C) Liquidating dividends after dissolution of a corporation

(D) De minimis benefits

(E) Embezzled money

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