Cheline, an actress, received a $10,000 gift bag from the Oscars during 2016

How much of each of the following is taxable? a. Cheline, an actress, received a $10,000 gift bag from the Oscars during 2016. b. Jon received a gold watch worth $660 for 25 years of service to his accounting firm (not a qualified award). c. Kerry won $1,000,000 in her state lottery. d. Deborah is a professor who received $30,000 as an award for her scientific research from the university that employs her. View Solution:
How much of each of the following is taxable a Cheline

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