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Pam works for a large insurance company. Her employer had a competition to see who could enroll the most new clients in the month of
Pam works for a large insurance company. Her employer had a competition to see who could enroll the most new clients in the month of March. Pam won this employee achievement award, and her employer gave her a new television with a fair market value of $500. Eight months later, just before the end of the tax year, Pam sells the television to a friend for $250. How much, if any, must Pam report as gross income. Question 3 options: a) None of it. b) She must report $100. c) She must report $250. d) All of it
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