Norbert works in a beauty salon. He receives a 50% employee discount for salon services. In 2017,

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Norbert works in a beauty salon. He receives a 50% employee discount for salon services. In 2017, he used his discount to buy $1,000 of services with a fair market value of $2,000. As a result of these bargain purchases, how much should Norbert include in 2017 gross income?
a. $1,000
b. $600
c. $2,000
d. $0

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South-Western Federal Taxation 2018 Comprehensive

ISBN: 9781337386005

41st Edition

Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young

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