Business, 06.03.2020 21:40, caudhdi11721

As a general rule, income generated by property is not taxable to the person who owns the property if the income is paid to directly to another person who, prior to such payment, performed services with respect to the property.

II. As a general rule, compensation with respect to the performance of services is taxable to the person who performed the services unless the compensation is assigned to and paid to a creditor of the person who performed the services and the assignment was made prior to performance of the services.

III. As a general rule, the transferee-assignee for value of the right to income from property when the right matures - and not the transferor-assignor - must pay tax on the income when the income is received, and the transfer by the transferor-assignor for value would not be a sale or exchange as to the transferor-assignor.

a. Only I is true.

b. Only I and II are true.

c. I, II, and III are true.

d. None of these is true.

Answers: 3

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As a general rule, income generated by property is not taxable to the person who owns the property i...