This year Ed celebrated his 25ᵗʰ year as an employee of Designer Jeans Company.In recognition of his long and loyal service,the company awarded Ed a gold watch worth $250 and a $2,000 cash bonus.What amount must Ed include in his gross income?
A) $2,250
B) $2,000
C) $250
D) Zero if Ed offers to contribute his watch and bonus to a qualified charity
E) Zero - all employee awards are excluded from gross income
Correct Answer:
Verified
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