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For each of the following independent situations, indicate the amount the taxpayer must include in gross income: a. Phil won $675 in the scratch-off state
For each of the following independent situations, indicate the amount the taxpayer must include in gross income: a. Phil won $675 in the scratch-off state lottery. There is no state income tax. mount to be included b. Ted won a compact car worth $20,100 in a TV game show. Ted plans to sell the car next year. mount to be included c. Al Bore won the Nobel Peace Prize of $580,000 this year. Rather than take the prize, Al designated that the entire award should go to Weatherhead Charity, a tax-exempt organization. mount to be included d. Jerry was awarded $6,200 from his employer, Acme Toons, when he was selected most handsome employee for Valentine's Day this year. mount to be included
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