For each of the following independent cases, indicate the amount of gross income that must be included

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For each of the following independent cases, indicate the amount of gross income that must be included on the taxpayer's 2015 income tax return.

a. Malchia won a $4,000 humanitarian award.

$ ______________

b. Rob won a new automobile (with a sticker price of $15,700 and a market value of $14,500) for being the best junior tennis player in 2015.

$ _____________

c. George received a $3,500 room and board scholarship to attend Western University.

$ _____________

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Income Tax Fundamentals 2016

ISBN: 9781337343527

34th Edition

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

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