Indicate whether each of the items listed below would be included (I) in or excluded (E) from

Question:

Indicate whether each of the items listed below would be included (I) in or excluded (E) from gross income for the 2014 tax year.
_______________ a. Welfare payments
_______________ b. Commissions
_______________ c. Hobby income
_______________ d. Scholarships for room and board
_______________ e. $300 set of golf clubs, an employee award for length of service
_______________ f. Severance pay
_______________ g. Ordinary of $50
_______________ h. Accident insurance proceeds
_______________ i. Inheritances
_______________ j. Gifts
_______________ k. Tips and gratuities Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...