In 2012, Bill, a single individual, earned a salary of $10,000 and received $2,000 in unemployment beneﬁts. The unemployment beneﬁts received by Bill are included in Bill's 2012 gross income.

Question

Quizplus · Accepted Answer

According to the IRS, unemployment benefits are considered taxable income and must be included in gross income for tax purposes. Therefore, the $2,000 in unemployment benefits received by Bill in 2012 would be included in his gross income for that year.

In 2012, Bill, a Single Individual, Earned a Salary of $10,000