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Which of the following describes the tax treatment of workers' compensation payments received by an...

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Question

Accounting

Which of the following describes the tax treatment of workers' compensation payments received by an individual?

Choose the correct answer.

A.

Payments are included in net income for tax purposes and taxable income.

B.

Payments are included in taxable income and excluded from net income for tax purposes.

C.

Payments are included in net income for tax purposes and excluded from taxable income.

D.

Payments are excluded from net income for tax purposes and taxable income.

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