Indicate whether each of the items listed below would be included (I) in or excluded (E) from

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Indicate whether each of the items listed below would be included (I) in or excluded (E) from gross income for the 2019 tax year.

a. Welfare payments

b. Commissions

c. Hobby income

d. Scholarships for room and board e. $300 set of golf clubs, an employee award for length of service

f. Severance pay

g. Ordinary dividend of $50

h. Accident insurance proceeds received for personal bodily injury

i. Inheritances

j. Gifts

k. Tips and gratuities

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Income Tax Fundamentals 2020

ISBN: 9780357108239

38th Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill

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Question Posted: Aug 24, 2020 08:51 AM

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Indicate whether each of the items listed below would be included (I) in or excluded (E) from

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a Excluded b Included c ...View the full answer

Income Tax Fundamentals 2020

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