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The following pertain to Joyce in 20 times 14: Medical Insurance premiums paid by employer $4,803 Teacher of the Year Award, in the form of
The following pertain to Joyce in 20 times 14: Medical Insurance premiums paid by employer $4,803 Teacher of the Year Award, in the form of gift cards redeemable at local businesses $500 Jewelry box, received from employer for 25 years of service (FMV) 100 20 times 14 holiday bonus awarded Its December 20X14. To be paid In January 20 times 15 250 What total amount from the above may be excluded from Joyce's 20 times 14 gross income? $5,650 $5,150 $350 $850 Pierce, a married individual, received the following in 20 times 14: Worker's compensation award $25,000 W-2 income 20,000 Unemployment compensation 4,800 Damages awarded for emotional distress experienced as a result of workplace bodily injury 10,000 Considering only the above, what is Pierce's 20 times 14 gross income? $49,800 $30,000 $34,800 $24,800 Norbert works in a beauty salon. He receives a 50% employee discount for salon services. In 20 times 14 he used his discount to buy for $1,000 services with a fair market value of $2,000. As a result of these bargain purchases, how much should Norbert include in 20 times 14 gross income? $1,000 $600 $2,000 $0 Cole, a 48-year-old married individual, received the following in 20 times 14: S Corporation stock dividends $5,000 Interest earned on federal Treasury bills 1,000 Interest earned on municipal bonds 2,500 Interest earned on state Income tax refund 50 Interest earned on Series EE savings bonds, used to help pay for room and board for dependent In college 1.500 Common stock property dividend (FMV) 3.000 In addition. Cole spent $500 on lottery scratch-off cards in 20 times 14. All of the cards were losers except for one, from which Cole won $1,000. Given these facts, what total amount from the above should be included in gross income on Cole's 20 times 14 tax return? $4,550 $6,550 $11,050 $11,550
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