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What is the federal income tax effect to a

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Reference no: EM131781580

Can someone help me answer the following TAX practice exam question:

Individual A paid $10,000 in to B. What is the federal income tax effect to A?

Hint: Clearly, this is an open ended question. You are not expected to address all possible scenarios. However, it is important to communicate your process and support any points you raise with citations to primary authority.

Reference no: EM131781580

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