Is It Taxable?

Test Your Tax IQ: Surprising Things Taxed by the IRS


You know that income from your job is taxable, and you’re probably aware that the Powerball winnings you dream of are taxable, too. But you may be surprised by the list of other things the IRS expects—and doesn’t expect—you to pay taxes on. Alimony payments and child support? One is taxable, but the other is not. How about a lawsuit settlement? Depends on whether the damages are physical in nature.

Before you file your 2016 tax return, take our quiz to see if you can tell the difference between things that are taxable and those that are not.

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