True/False
If a lottery prize winner transfers the prize to a qualified government unit or nonprofit organization, then the prize is excluded from the winner's gross income if the amount of the prize does not exceed 30% of the winner's AGI.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q38: Jacob and Emily were co-owners of a
Q39: When a business is operated as an
Q40: After his divorce in 2015, Jeff was
Q41: The annual increase in the cash surrender
Q42: Wayne owns a 30% interest in the
Q44: Samantha and her son, Brent, are cash
Q45: What are the effects of a below-market
Q46: On November 1, 2019, Bob, a cash
Q47: Travis and Andrea were divorced in 2017.Their
Q48: As a general rule: I.Income from property