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Indicate Yes or No of each of the following items to be included in gross income. (10 points) During the year, the taxpayer sold the
Indicate Yes or No of each of the following items to be included in gross income. (10 points)
- During the year, the taxpayer sold the stocks that he purchased years ago in doubled of the purchase price.
- The amount a teacher received for private tutoring a student after school.
- The taxpayer sold a bike on eBay and made $100 more than what he paid for the bike.
- Child support payments received.
- A damage deposit the taxpayer recovered when he vacated the apartment he had rented.
- Interest received by the resident taxpayer on an investment in school bonds issued by City of San Bernardino.
- Amounts receive by the taxpayer, a baseball Hall of Fame, for autographing sports equipment (e.g., balls and gloves).
- Tips received by Matt, a bartender, from patrons. (Matt is paid a regular salary by the cocktail lounge that employs him.
- Sherri sells her Super Bowl tickets for three times what she paid for them.
- Matthew receives a new BMW from his rich uncle when he graduates from Cal State next month.
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