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2) Rhett made his annual gambling trip to the Casino. On this trip Rhett won $350 at the slots and $1,250 at poker. Also this
2) Rhett made his annual gambling trip to the Casino. On this trip Rhett won $350 at the slots and $1,250 at poker. Also this year, Rhett made several trips to the racetrack incurring $300 in travel expenses and lost $700 on his various wagers. What amount must Rhett include in his gross Income?
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