Question
Dion retires after 50 years of working for Zacker Industries. His boss gives him a $400 Apple Watch as a retirement gift. Is it taxable
a. No. Retirement gifts are not taxable if they are under $1,600.
b. No. It does not exceed the $400 limit.
c. Yes. All gifts from employers are considered compensation.
d. Yes. Gifts given without a qualified award plan are taxable.
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The detailed answer for the above question is provided below The answer is b No It does not exc...
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
