Discussion) Gross income and exclusions John received $100,000 cash from his company for his good work performance and he also received stock shares worth $200,000 from his father upon his death in 2023. On December 31, 2023, he received cash dividend in the amount of $5,000 from his inherited stock. John came to you to know his INCOME tax consequences from the above events. How would you advise him? (Note: You don't need to calculate tax liability. Simply itemize gross income and exclusions.)

Answer rating: 100% (QA)

Certainly Heres how I would advise John regarding his income tax conseque... View the full answer