Nora, a single individual age 60, receives a gold watch worth $700 during her retirement luncheon, based upon her long tenure with the company. The award was made under a non-qualified plan. How much of the award must Nora recognize in her gross income for the current year?
A) $- 0 -
B) $300
C) $400
D) $500
E) $700
Correct Answer:
Verified
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