Mary received the following items during the current year: $\begin{array}{lr}
\text { Christmas bonus from her employer } & \$ 600 \
\text { Christmas gift from her father } & \$ 100 \
\text { Unemployment compens ation } & \$ 35
\end{array}$ What is the total amount of the above items that must be included in Mary's current year gross income?
A)$0
B)$100
C)$135
D)$600
E)$635

Question

Quizplus · Accepted Answer

The Christmas bonus from her employer ($600) and the unemployment compensation ($35) are both taxable and must be included in Mary's gross income. Gifts, such as the $100 from her father, are not taxable. Therefore, the total amount included in gross income is $635.

Mary Received the Following Items During the Current Year What Is the Total Amount of the Above Items That