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Jenny's salary income in 2020 is $20,000. Jenny is a UWM student, who is picked to be on Jeopardy. Thankfully, it is Jenny's lucky day
Jenny's salary income in 2020 is $20,000. Jenny is a UWM student, who is picked to be on Jeopardy. Thankfully, it is Jenny's lucky day and both of her opponents are Golden Eagles, thus Jenny is almost guaranteed a win. Sure enough, Jenny breaks the all-time Jeopardy single session record and wins $80,000 in July of 2020, while both of her Golden Eagle opponents finish with negative winnings. a. What is Jenny's gross income in 2020? Now assume that Jenny did not play on Jeopardy, and thus did not win anything in Jeopardy. Instead, sadly and unexpectedly, Jenny's grandfather passes away after flipping his Corvette, leaving Jenny shares of stock with a basis of $20,000 prior to her grandfather's death and a fair market value of $75,000. All other facts remain the same. b. What is Jenny's gross income in 2020 in this case
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