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    Exam 25: Taxation of International Transactions
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    Carol, a Citizen and Resident of Adagio, Reports Gross Income
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Carol, a Citizen and Resident of Adagio, Reports Gross Income

Question 19

Question 19

True/False

Carol, a citizen and resident of Adagio, reports gross income that is effectively connected with a U.S. business. No deductions are allowed against this income, and Carol's U.S. tax rate is a flat 30 percent.

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