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For each of the following, determine the amount that should be included in gross income. If an amount is zero, enter 0 . a.
For each of the following, determine the amount that should be included in gross income. If an amount is zero, enter " 0 ". a. Peyton was selected the most valuable player in the Super Bowl. In recognition of this, he was awarded an automobile with a value of $60,000. Peyton did not need the automobile, so he asked that the title be put in his parents' names. Peyton is required to include $ in his gross income. b. Jacob was awarded the Nobel Peace Prize. When he was presented the check for $1,400,000, Jacob said, "I do not need the money. Give it to the United Nations to use toward the goal of world peace." Jacob is required to include $ of the prizes received in his gross income. c. Linda appeared on a television game show during the year, winning $6,000 of cash and $4,000 of furniture and appliances. Linda is required to include $ of the prizes in her gross income
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