Question
For each of the items of income below, enter the amount that is included in taxable income. If the amount included in taxable income is
For each of the items of income below, enter the amount that is included in taxable income. If the amount included in taxable income is $0, enter a zero (0).
1. workers compensation payment of $4,000 for a work-related injury
2. $450,000 of proceeds from the sales of a personal residence by a qualified single individual who brought the residence 3 years ago for $150,000 and has used the home as a principal residence ever since.
3. Unemployment compensation benefits of 7,000
4. Land worth 100,000 inherited from the grandfather, who purchased it 10 years ago for 50,000
5. Life insurance proceeds of $25,000 from the death of grandfather.
6. State income tax refund of 300 from the prior year's state income tax return (the standard deduction was used in the prior year).
7. free tablet worth $400 won as a prize in a raffle drawing
8. Family support(alimony and child support), pursuant to a divorce agreement executed before January 1, 2019, of $18,000 (after the child reaches the age of 18, the support drops to $6,000)
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