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 2019 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 2019. 

c. George received a $3,500 tuition and fees scholarship to attend Western University.

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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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