Solution-Indicate the amount of gross income

Indicate the amount of gross income

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Reference no: EM132705588

Problem - For each of the following independent cases, indicate the amount of gross income that must be included on the taxpayer's 2018 income tax return.

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 2018.

c. George received a $3,500 tuition and fees scholarship to attend Western University.

Reference no: EM132705588

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Indicate the amount of gross income

Reference no: EM132705588

Reference no: EM132705588

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