While vacationing you find a $100 bill on the beach Nobody saw you find it Assuming the find meets the definition of gross income, would you report it as taxable income Why or why not Would you answer differ if you found $100,000 instead of $100 Do you think that finding $100 meets the definition of gross income Is there a materiality threshold for when you have to report income Does not reporting the $100 violate tax law and or ethical standards If you are more likely to report the $100,000, why Does not reporting the $100,000 violate tax law and or ethical standards PreviousNext

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Question: While vacationing you find a $100 bill on the beach. Nobody saw you find it. Assuming the find meets the definition of gross income, would

While vacationing you find a $100 bill on the beach. Nobody saw you find it. Assuming the find meets the definition of gross income, would you report it as taxable income? Why or why not? Would you answer differ if you found $100,000 instead of $100?

Do you think that finding $100 meets the definition of gross income?
Is there a "materiality" threshold for when you have to report income?
Does not reporting the $100 violate tax law and/or ethical standards?
If you are more likely to report the $100,000, why? Does not reporting the $100,000 violate tax law and/or ethical standards?

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