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What is the tax treatment for a taxpayer receiving a gold watch valued at $ 3 5 0 in recognition of his 2 5 th
What is the tax treatment for a taxpayer receiving a gold watch valued at $ in recognition of his th year of
working for the same company?
The value of the watch is included in gross income.
The value of the watch is excluded from gross income.
The value of the watch is only excluded from gross income if the taxpayer donates it to a charita
ble organization.
Onehalf of the value of the watch must be included in gross income.
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