Internal Revenue Service United States Department of the Treasury
Module 3: Interest Income

Page 4 of 7

 

Check your understanding of the concepts you have learned by completing this Quick Check. When you have completed the two sets of questions, click the Check My Answers button at the bottom of the page.

quick check

Answer the following multiple-choice questions about interest income by clicking on the correct answers.

  1. Interest income is earned on all of the following except
  • A.
  • B.
  • C.
  • D.
  1. Which statement is not true?
  • A.
  • B.
  • C.
  • D.

Determine whether the interest income is taxable or tax-exempt. Answer the following questions by selecting taxable or tax-exempt in the space provided.

  1. Alexa earned $145 from money in her savings account.
  • A.
  • B.
  1. LaKeisha earned $135 on bonds issued by the Ohio Water Authority.
  • A.
  • B.

 

Tax Tutorial
Close Window