How much of each of the following is taxable? a. Cheline, an actress, received a $10,000 gift
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How much of each of the following is taxable?
a. Cheline, an actress, received a $10,000 gift bag from the Oscars during 2016.
b. Jon received a gold watch worth $660 for 25 years of service to his accounting firm (not a qualified award).
c. Kerry won $1,000,000 in her state lottery.
d. Deborah is a professor who received $30,000 as an award for her scientific research from the university that employs her.
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Related Book For
Income Tax Fundamentals 2017
ISBN: 9781305872738
35th Edition
Authors: Gerald E. Whittenburg, Steven Gill, Martha Altus Buller
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