Pablo wins a new automobile on a television game show The car has a listed sticker price of $31,500 A dealer advertises the same car for $30,000 How much income does Pablo have from the receipt of the car Explain ...

Prizes and awards are taxable Because the prize was won it does not meet the excepti ...

Pablo wins a new automobile on a television game show. The car has a listed sticker price

Question:

Pablo wins a new automobile on a television game show. The car has a listed sticker price of $31,500. A advertises the same car for $30,000. How much income does Pablo have from the receipt of the car? Explain.

Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...