Question
In 2021, John earned 50,00.00 working as an employee, and won $5000 in a state lottery. Also in 2021, John spent $400 for the purchase
In 2021, John earned 50,00.00 working as an employee, and won $5000 in a state lottery. Also in 2021, John spent $400 for the purchase of lottery tickets. John elected the standard deduction on his 2021 income tax return. The amount of lottery winnings that should be included in John's taxable income is?
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Cost Accounting Foundations and Evolutions
Authors: Michael R. Kinney, Cecily A. Raiborn
8th Edition
9781439044612, 1439044619, 978-1111626822
