Andy retires after 20 long years working for Gibbs Tech. At his retirement party, the company awards him with a gift certificate to his favorite restaurant as a retirement gift in the amount of $400. How much can Andy exclude for income tax purposes? Andy retires after 20 long years working for Gibbs Tech. At his retirement party, the company awards him with a gift certificate to his favorite restaurant as a retirement gift in the amount of $400. How much can Andy exclude for income tax purposes? $0. $200. $300. $400.