h. Tips received by a bartender from patrons. (Taxpayer is paid a regular salary by the...
h. Tips received by a bartender from patrons. (Taxpayer is paid a regular salary by the cocktail lounge that employs him.)
i. Taxpayer sells his Super Bowl tickets for three times what he paid for them.
j. Taxpayer receives a new BMW from his grandmother when he passes the CPA exam.
Homework Answers
- Tips received by a bartender from patrons. (Taxpayer is paid a regular salary by the cocktail lounge that employs him.)- This is an inclusion to gross income.
- Taxpayer sells his Super Bowl tickets for three times what he paid for them.- This is an inclusion to gross income.
- Taxpayer receives a new BMW from his grandmother when he passes the CPA exam.- This is an exclusion to gross income.
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