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Prizes and Awards. For each of the following, indicate whether the amount is taxable: a. Peggy won $4,000 in the state lottery. b. Jane won
Prizes and Awards. For each of the following, indicate whether the amount is taxable: a. Peggy won $4,000 in the state lottery. b. Jane won a $500 prize for her entry in a poetry contest. c. Linda was awarded $2,000 when she was selected as Teacher of the Year by the local school district
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