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Question 1 (1 point) As Lily is completing her 1040 form (tax return), what piece of information will she find on a different document rather than on this w-2 a Federal income tares she's already paid b. Income earned form her investments c. State incometaxes she's already paid d Gross wages earned

Problemas

Question 1 (1 point)
As Lily is completing her 1040 form (tax return), what piece of information will she find on a different document rather than on this w-2
a Federal income tares she's already paid
b. Income earned form her investments
c. State incometaxes she's already paid
d Gross wages earned

Question 1 (1 point) As Lily is completing her 1040 form (tax return), what piece of information will she find on a different document rather than on this w-2 a Federal income tares she's already paid b. Income earned form her investments c. State incometaxes she's already paid d Gross wages earned

Solución

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Gregorioélite · Tutor durante 8 años
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The correct answer is b. Income earned from her investments.<br /><br />The W-2 form is a document that employers provide to their employees, showing the amount of wages earned and taxes withheld during the year. It includes information such as gross wages earned, federal income taxes withheld, and state income taxes withheld.<br /><br />On the other hand, income earned from investments, such as interest, dividends, or capital gains, is typically reported on a separate document called a 1099 form. This form is provided by financial institutions or other entities that pay out investment income. The 1099 form will show the amount of income earned from investments, as well as any taxes withheld or paid.<br /><br />Therefore, Lily will find information about her income earned from investments on a different document (the 1099 form) rather than on her W-2 form.
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