Indicate whether each of the items listed below would be included (I) in or excluded (E) from gross income for the 2016 tax year. __________ a. Welfare payments __________ b. Commissions __________ c. Hobby income __________ d. Scholarships for room and board __________ e. $300 set of golf clubs, an employee award for length of service __________ f. Severance pay __________ g. Ordinary dividend of $50 __________ h. Accident insurance proceeds received for personal bodily injury __________ i. Inheritances __________ j. Gifts __________ k. Tips and gratuities View Solution:
Indicate whether each of the items listed below would be
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