Question: Jensen reported the following items during the current year: Fair rent value of a condominium owned by Jensen s employer $ 1 , 4 0

Jensen reported the following items during the current year:
Fair rent value of a condominium owned by Jensens employer
$1,400
Cash found in a desk purchased for $30 at a flea market
400
Inheritance
11,000
The employer allowed Jensen to use the condominium for free in recognition of outstanding achievement. Based on this information, what is Jensens gross income for the year?
$1,800
$1,400
$1,770
$12,400

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