Which of the following is considered earned income (i.e., active income)? (1) Salary from your...
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Which of the following is considered earned income (i.e., active income)? (1) Salary from your job (2) Sale of your used car that represents a gain of $100 (3) Sick pay (4) Sale of a limited partnership (5) Commission received from selling product (6) Membership to 24/7 fitness, which is paid by your employer (7) Gift from your parents O 3, 4, 5 and 6 O 2, 3, 6 and 7 0 1,2, 4 and 7 0 1,3,5 and 6 All but one of the following deductions are permitted against gross income. Which of the following is NOT an above-the-line adjustment for Form 1040? O Qualified student loan interest (subject to cap) 0 Contributions to a health savings account (subject to limits) o Contributions to a pre-tax individual retirement arrangement (IRA), subject to limits O Charitable contributions (subject to limits)
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