AaB Aalbec ABCD Aalb Alb Abby Abc ABCD ABCD ABCD Abc Title Subtitle Subtle im. Emphasis intense Strong Quote s Sud e te. Book de Pand Styles Select- Editing 13) Sal was awarded a scholarship to attend State Law School from Gibson Harris & Associates, Attorneys at Law. The scholarship pays Sal's tuition ($7,000 per semester), fees (5500 per semester). and a $4,500 per semester stipend to pay for food and housing. In order to qualify for the stipend, Sal must work 10 hours per week at Gibson Harris & Associates during the term. How much of the scholarship is Sal required to include in gross income? 14) Bobby and Sally got married 25 years ago. Since that time, they have lived in Bobby's home. Sally sold her previous home three years ago and excluded her entre pain (580,000) at that time. Bobby and Sally decided to move to a beper home this year. As a result, they sold Bobby's home for $500,000 (original cost $150,000). How much of the pain from the sale is taxable? 15) Carto purchased an awity from an insuce company that promised to pay him $20.000 per year for the next 12 years Carlton paid $150,000 for the ty. How much of the first $20,000 payment should Canon include in gross income? 16 Charles is a cash method taxpayer who reports on a calendar-year Last year Charles d e of SEX 000 and at year and his employer ounced that Charles would reve a led boos of $10,000 in cash and a new TV worth $2.000. Charles dad e s bascheck January of this year and the TV didn't new Mach of the year De a ls should code in his gross e for last year DELL Sal was awarded a scholarship to attend State Law School from Gibson Harris & Associates, Attorneys at Law. The scholarship pays Sal's tuition ($7,000 per semester), fees (5500 per semester), and a $4,500 per semester stipend to pay for food and housing. In order to qualify for the stipend, Sal must work 10 hours per week at Gibson Harris & Associates during the term. How much of the scholarship is Sal required to include in gross income? 14) Bobby and Sally got married 2.5 years ago. Since that time, they have lived in Bobby's home. Sally sold her previous home three years ago and excluded her entire gain (S80,000) at that time. Bobby and Sally decided to move to a bigger home this year. As a result, they sold Bobby's home for $500,000 (original cost $150,000). How much of the gain from the sale is taxable? 15) Carlton purchased an annuity from an insurance company that promised to pay him $20,000 per year for the next 12 years. Carlton paid $180,000 for the annuity. How much of the first $20,000 payment should Carlton include in gross income? 16) Charles is a cash method taxpayer who reports on a calendar-year. Last year Charles received salary of 588.000 and at year-end his employer announced that Charles would receive an additional year-end bonus of $10,000 in cash and a new TV worth $2,000. Charles didn't receive his bonus check until January of this year and the TV didn't arrive until March of this year. Determine the amount Charles should include in his gross income for last year
