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In June of 2020, Kevin inherits stock worth $125,000. During the year, he collects $5,600 in dividends from the stock.

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In June of 2020, Kevin inherits stock worth $125,000. During the year, he collects $5,600 in dividends from the stock. How much of these amounts, if any, should Kevin include in his gross income for 2020?

$____________

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Related Book For  answer-question
Income Tax Fundamentals 2021

Income Tax Fundamentals 2021

ISBN: 9780357141366

39th Edition

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

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Question Details
Chapter # 2- Gross Income: Exclusions
Section: Problem
Problem: 24
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Question Posted: September 24, 2023 05:14:36
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