Requirement For each of the following, indicate whether the amount is taxable: a

Question

Requirement

For each of the following, indicate whether the amount is taxable:

a.

Peggy won $4,000 in the state lottery.

b.

Jane won a $500 prize for her entry in a poetry contest.

c.

Linda was awarded $2,000 when she was selected as "Teacher of the Year" by the local school district.

Are the above 3 includable in gross income? Answer Yes or No for each.

a.

Peggy won $4,000 in the state lottery.

b.

Jane won a $500 prize for her entry in a poetry contest.

c.

Linda was awarded $2,000 when she was selected as "Teacher of the Year" by the local school district.

Are the above 3 includable in gross income? Answer Yes or No for each.

Explanation / Answer

a) yes

b) yes

c)yes

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