Solved

State Whether Each of the Following Is Taxable or Nontaxable

Question 81

Essay

State whether each of the following is taxable or nontaxable.
a.Susan won a jackpot of $50,000 gambling at a casino.
b.Sarah received a Christmas ham from her employer.
c.Jonathan won a car in a supermarket raffle valued at $25,000.
d.Gary received a scholarship for tuition of $5,000 a year.
e.Eric is given lodging valued at $1,000 a month on the oil rig where he is employed since it is impossible for Eric to go home during the period of time he is assigned to work on the rig.

Correct Answer:

verifed

Verified

a.Taxable
b.Nontaxab...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions