Melissa is preparing her federal income tax return. Which of the following items should be excluded...
Melissa is preparing her federal income tax return. Which of the following items should be excluded from Melissa’s gross income?
- Alimony received by Melissa from her ex-husband. Divorce was effective 12/31/2017
- $100,000 in cash received by Melissa when her mother died.
- Royalties received by Melissa for her best-selling novel.
- $5,000 of gain resulting from the sale of Melissa’s favorite painting.
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Melissa is preparing her federal income tax return. Which of the
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1:4 61 Alice Johnson, Social Security number 222-23-3334, is a single taxpayer and is employed as a secretary by State University of Florida. She has the following items pertaining to her income tax return for the current year • Received a $30,000 salary from her employer, who withheld $4,200 federal income tax • Received a gift of 1,000 shares of Ace Corporation stock with a $100,000 FMV from her mother. She...
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you
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7-61 Alice Johnson, Social Security number 222-23-3334, is a single taxpayer and is employed as a secretary by State University of Florida. She has the following items pertaining to her income tax return for the current year: • Received a $30,000 salary from her employer, who withheld $4,200 federal income...
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