Assume that mariana received some unique payments in 2013., Ask an Expert

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Assume that Mariana received some unique payments in 2013. Which of the following items may Mariana exclude from gross income?

a. $15,000 received as a gift from Mariana's college buddy

b. $75,000 of punitive damages received from a lawsuit against Dangerous Co.

c. $500 received from her Fantasy Football league winnings

d. None of the above

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Accounting Basics, Accounting

Category:- Accounting Basics
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