For each of the following independent cases, indicate the amount of gross income that must be included
Question:
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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Related Book For
Income Tax Fundamentals 2020
ISBN: 9780357108239
38th Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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