Rob won a new automobile (with a sticker price of $15,700 and a market value of $14,500) for being the best junior tennis player in 2016

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For each of the following independent cases, indicate the amount of gross income that must be included on the taxpayer’s 2016 income tax return. a. Malchia won a $4,000 humanitarian award. $___________________ b. Rob won a new automobile (with a sticker price of $15,700 and a market value of $14,500) for being the best junior tennis player in 2016. $___________________ c. George received a $3,500 tuition and fees scholarship to attend Western University. $___________________ View Solution:
For each of the following independent cases indicate the amount