Which of the following items will result in an inclusion in gross income?
A)A 10% stock dividend for all shareholders is declared by the board of directors of a publicly-traded corporation.Mel receives 10 shares of stock worth $1,000.
B)Due to the discovery of oil beneath Finn's land,the value of Finn's land increases $1,000,000.
C)Jane receives a check from her stock broker for $50,000 due to the sale of stock purchased five years ago for $60,000.
D)George won $50 at his church's bingo game night.

Question

Quizplus · Accepted Answer

Winnings from gambling, such as bingo, are considered taxable income and must be included in gross income.

Which of the Following Items Will Result in an Inclusion