Question: 43. In 2011, Emil Gow won $5,000 in a state lottery. Also in 2011, Emil spent $400 for the purchase of lottery tickets. Emil elected

43. In 2011, Emil Gow won $5,000 in a state lottery. Also in 2011, Emil spent $400 for the purchase of lottery tickets.

Emil elected the standard deduction on his 2011 income tax return. The amount of lottery winnings that should be included in Emil’s 2011 taxable income is

a. $0

b. $2,000

c. $4,600

d. $5,000 I.C.5. Rents and Royalties

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