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During the previous year, Carrie paid $500 of estimated state income tax payments, which she also deducted for federal income tax purposes. Early in the current year, Carrie received a refund of $300 of these state tax payments. Carrie immediately placed an illegal bet at 5-to-1 odds and won an additional $1,500. Later in the year, Carrie was short of money and robbed a tavern of $4,000. How much should Carrie include in her income for the current year?

a. $0
b. $1,500
c. $1,800
d. $5,800

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9415410

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