BUSN 380 study Great Stories/busn380study.com BUSN 380 study Great Stories/busn380study.com | Page 30

Excise
General sales
Value added
Question 2. 2. (TCO 2) Interest earnings of $2,400 from a taxable
investment for a person in a 28% tax bracket would result in after-tax
earnings of
$672.
$1,728.
$2,400.
$3,333.
$8,571.
Question 3. 3. (TCO 2) _____ can reduce taxable income.
Portfolio income
Tax credits
Exclusions
Passive income
Earned income
Question 4. 4. (TCO 2) Mary has earned money from a limited
partnership, so she would need to report this as _____ income.
passive