Question: Frank Fox won $ 1 0 , 0 0 0 in a state lottery. He also lost $ 3 , 0 0 0 at the

Frank Fox won $10,000 in a state lottery. He also lost $3,000 at the horse races. On his income tax return he should report: a. $10,000 gross incom b. $7,000 gross income . $10,000 gross income and $3,000 deduction from gross income d. $10,000 gross income and $

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