Instructions

Please select the best answer for each of the following questions. Unless otherwise stated, the questions relate to the current tax year. You will be permitted to take the quiz twice with the highest score being recorded as your grade.

Question 4 20 pts Kathleen receives the following: Non-cash game show winnings with a value of: $2,000 Prize 2,000 Scholarship used for tuition 2,000 Gift from an unrelated person 2,000 How much income does Kathleen have from the above transactions? $6,000 $8,000 O $2,000 O $4,000