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Required information [The following information applies to the questions displayed below.] For the following independent cases, determine whether economic income is present and, if so,
Required information [The following information applies to the questions displayed below.] For the following independent cases, determine whether economic income is present and, if so, whether it must be included in gross income (i.e., is it realized and recognized for tax purposes?). (Leave no answers blank. Enter zero if applicable.) a. Asia owns stock that is listed on the New York Stock Exchange, and this year the stock increased in value by $16,250. Amount Economic Income Amount included in Gross Income b. Ben sold stock for $11,500 and paid a sales commission of $230. Ben purchased the stock several years ago for $4,600. Amount Economic Income Amount included in Gross Income c. Bessie is a partner in SULU Enterprises LLC. This year SULU reported that Bessie's share of rental income was $3,150 and her share of municipal interest was $900. Amount Economic Income Amount included in Gross Income
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