For each of the following independent cases, indicate the amount of gross income that must be included on the taxpayer's 2021 income tax retun If an amount is zero, enter "0". a. Malchia won a $4,000 humanitarian award. b. Rob won a new automobile (with a sticker price of $15,700 and a market value of $14,500) for being the best junior tennis player in 2021. c. George received a $3,500 tuition and fees scholarship to attend Western University.
For each of the following independent cases, indicate the amount of gross income that must be included on the taxpayer's 2021 income tax retun If an amount is zero, enter "0". a. Malchia won a $4,000 humanitarian award. b. Rob won a new automobile (with a sticker price of $15,700 and a market value of $14,500) for being the best junior tennis player in 2021. c. George received a $3,500 tuition and fees scholarship to attend Western University.
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 12P
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT