Determine if the amounts are taxable:
a. Sam owns 100 shares of Apple which he purchased for $50 a share in 2012; they are now worth $150 a share; he still owns the shares. 
b. Sarah won the NJ cash five lottery for $10,000 in 2023, 
c.Mary inherited $100,000 from her aunt d. Jill sold her home for $300,000
d . She bought it in 2015 for $150,000. 
e. Tina received a settlement from a lawsuit for 5250,000

Answer rating: 100% (QA)

Whether the income you described is taxable depends on the specific circumstances and the relevant t... View the full answer