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For each of the following independent cases, indicate the amount of gross income that should be included on the taxpayer's return. Gross Income 1 Helen
For each of the following independent cases, indicate the amount of gross income that should be included on the taxpayer's return. | ||||||||
Gross Income | ||||||||
1 | Helen enters a radio contest and wins $2,000. | $ | ||||||
2 | Professor Deborah wins an award of $10,000 for a book on literature she published 4 years ago. The award was presented in recognition of her past literary achievements. | $ | ||||||
3 | Bill is a professional baseball player. Because he has hit 50 home runs this season, he was given a new wrist watch worth $2,500. | $ | ||||||
4 | John is an employee of Big Corporation. He is awarded $5,000 for a suggestion to improve the plant layout. | $ | ||||||
5 | Martha received a desk clock worth $350 from her employer in recognition of her 15 years of loyal service as an employee. | $ | ||||||
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