Multiple Choice
Which of the following items will result in an increase in gross income?
A) Receipt of a $10,000 check from the bank. The check is for a student loan.
B) Preparing a mechanic's tax return in exchange for the mechanic replacing the muffler on your car.
C) Receiving a $10,000 award from a university for high grades and high SAT scores. The award is used to pay tuition.
D) None of the above will be included in gross income.
Correct Answer:
Verified
Correct Answer:
Verified
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