Question
Kim is an avid trivia fanatic and watches trivia game shows frequently. Kims daughter convinced her to put her skills to the test and compete
Kim is an avid trivia fanatic and watches trivia game shows frequently. Kims daughter convinced her to put her skills to the test and compete on one of her favorite game shows. Kim was selected to compete on the show and was lucky enough to win a new car worth $30,000. Instead of keeping her winnings, Kim decided to donate the car to charity. Kims friend mentions that this was a kind and intelligent decision because Kim doesnt have to pay tax on her donated winnings. Kim comes to you for advice on her friends opinion that the fair-market value ($30,000) of the car is not taxable to her. Facts: Research Question: Key words to search with: Answer: Support: For each of the following scenarios provide the following information (in the format displayed below). This information does not need to be in complete sentences or have perfect grammar, but it does need to be readable. You are just providing the basic information that you would need to write a memo or letter to a tax client. I will be grading this portion strictly on content and not on grammar or presentation unless you dont follow the format below. Use only primary sources for your support. This section will be worth up to 10 points for each scenario.
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