1. A taxpayer received a $30,000 gift. 2. A taxpayer, who was...

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Accounting

1. A taxpayer received a $30,000 gift.
2. A taxpayer, who was not an active participant in an employers qualified pension or annuity plan in 2024, contributed $7,000 to his IRA in 2024.
3. $1,000 federal income tax refund.
4. A taxpayer received $4,000 guaranteed payment for services rendered to a partnership in which she owns 50%.
5. A taxpayer received $10,000 proceeds from his deceased brother's life insurance policy.

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