Question
Joanne travels extensively for business, and has accumulated a large number of air miles as a result. Joanne has no desire to travel during
Joanne travels extensively for business, and has accumulated a large number of air miles as a result. Joanne has no desire to travel during her vacation time, so she used her air miles to order a watch valued at $600, and a necklace valued at $1,100 from the air miles catalogue. She gave the watch to her husband and kept the necklace for herself. What was the amount of her taxable benefit?
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