Question
Problem 2-12 Prizes and Awards, Scholarships (LO 2.6, 2.12) For each of the following independent cases, indicate the amount of gross income that must be
Problem 2-12 Prizes and Awards, Scholarships (LO 2.6, 2.12)
For each of the following independent cases, indicate the amount of gross income that must be included on the taxpayer's 2019 income tax return.
If an amount is zero, enter "0".
a. Malchia won a $4,000 humanitarian award.
$...................................?
b. Rob won a new automobile (with a sticker price of $15,700 and a market value of $14,500) for being the best junior tennis player in 2019.
$...................................?
c. George received a $3,500 tuition and fees scholarship to attend Western University. $...................................?
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Intermediate Financial Management
Authors: Brigham, Daves
10th Edition
978-1439051764, 1111783659, 9780324594690, 1439051763, 9781111783655, 324594690, 978-1111021573
