About this Course
Topic covered include:
Exclusions from gross income;
Tax treatment of gifts and inheritances;
Taxable and tax-free damages;
Miscellaneous tax-free income.
Upon completing this course, you should be able to:
Explain the concept of an exclusion;
Describe the tax treatment of gifts and inheritances;
Distinguish between taxable and tax-free damages;
List miscellaneous income that is tax free.