Laura has volunteered at several nonprofit organizations over the past decade. In recognition of her good deeds, the mayor publicly thanked her at a celebratory black-tie dinner in December.


The local newspaper placed a picture of the event on its front page, which provided Laura with "favorable press" equivalent to a $5,000 advertising campaign. Is that included in Laura's gross income for 2021?

Answer rating: 100% (QA)

If the favorable press provided by the local newspaper was a gift and not directly related to any se... View the full answer