What are some examples of exempt income mentioned in the text?
Determining Tax Exemptions

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7 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
How does employee educational assistance qualify as exempt income?
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3.
OPEN ENDED QUESTION
3 mins • 1 pt
In what situations is debt forgiveness not considered taxable income?
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4.
OPEN ENDED QUESTION
3 mins • 1 pt
What role do municipal bonds play in exempt income?
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5.
OPEN ENDED QUESTION
3 mins • 1 pt
Describe how Roth IRAs function in terms of taxation.
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6.
OPEN ENDED QUESTION
3 mins • 1 pt
Explain the concept of deductions as described in the text.
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7.
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3 mins • 1 pt
What is the difference between a normal credit and a refundable credit?
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