Ray, a CPA, received a damage award in a defamation suit against a former client who claimed that he was incompetent tax accountant. Ray received $200,000 for damages to his professional reputation, $500,000 for damages for lost income, and $100,000 in punitive damages, and $100,000 for emotional distress due to damage to his personal reputation. Ray must include in his gross income as a damage award: A) $100,000 B) $500,000. C) $600,000. D) $800,000. E) $900000. Which of the following are includible in gross income? A) Dividends from a corporation that has no earnings and profits B) Stock Dividends where the taxpayer receives only stock C) $70,000 in wages earned by a US Citizen in Singapore when the taxpayer was present in Singapore the entire calendar year D) Manufacturer of Hot-tub Spas allows management employees to purchase hot-tubs at only 5% over cost. The Spas are sold to dealers at 20% over cost. E) A CPA firm provides free tax-preparation services to all its employees F) All are excludible Which of the following is not excludable from gross income? A) Municipal Bond Interest B) Employer-paid Premiums on Long Term Care Insurance Policies up to $330 daily benefit in 2015 C) Interest on US treasury notes and Savings Bonds D) A Debt discharged in a Chapter 7 or 13 bankruptcy case E) All are excludibe