Calculate the taxpayers gross income

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Assignment:

In each of the following situations, calculate the taxpayer's gross income:

a-) Albert received a salary of $ 60,000 from his employer, ABC Construction.

b-) In August, ABC Construction gave Albert a paid trip to Vegas (value of $6,000) as w reward for exceeding his sales quota.

c-) Olga received $20,000 from her employer to help her pay medical expenses not covered by her insurance.

d-) Bernard received $35,000 from his deceased spouse's employer as compensation for a bonus earned prior to death.

e-) Clifford collected $75,000 as the beneficiary of a group term life insurance policy when his wife died. The premiums on the policy were paid by his deceased wife's employer

Reference no: EM133335583

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