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46. A taxpayer is unsure about gross business income, and they do not know what to include. The taxpayer is a self-employed, cash-basis contractor that

image text in transcribed 46. A taxpayer is unsure about gross business income, and they do not know what to include. The taxpayer is a self-employed, cash-basis contractor that installs and repairs air conditioning units for businesses and individuals. Should the following be included as gross business income on their Schedule C? A $2,000 check received from a local insurance office for a new portable air conditioner A taxpayer is unsure about gross business income, and they do not know what to include. The taxpayer is a self-employed, cash-basis contractor that installs and repairs air conditioning units for businesses and individuals. Should the following be included as gross business income on their Schedule C? Cash received from the taxpayer's friend for doing an emergency repair to the friend's air conditioner A taxpayer is unsure about gross business income, and they do not know what to include. The taxpayer is a self-employed, cash-basis contractor that installs and repairs air conditioning units for businesses and individuals. Should the following be included as gross business income on their Schedule C ? $15,000 received from the insurance company to replace the contractor's totaled company truck

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