For each independent scenario, state the total amount of gross income. Assume that each taxpayer uses the cash method of accounting and that each amount is received in the current year unless stated otherwise.

Taxpayer A

A laptop with a FMV of $400 received for opening an interest-bearing account at the local bank

$1,000 in prepaid rent received in November of the current year A house with a FMV of

$100,000 transferred to the taxpayer as a property settlement incident to a divorce executed in 2018 $600 worth of stock dividends. Taxpayer A cannot elect to receive cash or property instead.

$500 unemployment benefits

Taxpayer B $5,000 scholarship received ($4,000 for tuition and $1,000 for room and board)

$800 in gambling winnings from a recent trip to Las Vegas

$90,000 in life insurance proceeds received due to the death of his spouse

$2,000 gift from his employer for doing such a good job this year

$300 dividends received in January of the following year

Taxpayer C $30,000 compensation for consulting services provided

$500 interest on New York state bonds

$1,000 received in alimony payments from ex-spouse (divorce agreement was executed in 2018)

$750 received from interest in trust

A $2,000 reimbursement received from military for non-qualified moving expenses

Taxpayer D $600 interest on state tax refund

$20,000 in commissions from sales made in the current year

$8,000 child support

$5,000 share of income from Partnership ABCD

$1,500 damages for lost profits in a business

1. Taxpayer A

2. Taxpayer B

3. Taxpayer C

4. Taxpayer D