Harry's uncle, Jim, is a mooch. Jim exerts no effort in finding employment for himself, but he is persistent in hitting up Harry and other family members for money to cover basic living expenses.

After a particularly intense period of begging in May, Harry gave $300 to Jim in order to get Jim to go away.  

Would Jim have to include this in his gross income?

Answer rating: 100% (QA)

Yes Jim would need to include the 300 that he received from Harry in his gross inc... View the full answer