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Cassie is preparing her federal income tax return. Which of the following items should be excluded from Cassie's gross income? Royalties received by Cassie for
Cassie is preparing her federal income tax return. Which of the following items should be excluded from Cassie's gross income?
Royalties received by Cassie for her best-selling novel.
$100,000 in cash received by Cassie when her grandmother died.
Alimony received by Cassie from her ex-husband.
$5,000 of gain resulting from the sale of Cassie's favorite painting.
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