How much gross income does Ron have from the following items of economic income?
?
- Received cash gift of $\$ 5,000$ from parents.
- Received $\$ 12,000$ in alimony payments and $\$ 6,000$ in child support from former spouse (2018 agreement).
- Won $\$ 4,000$ in Indiana lottery scratch off game.
- Investment in IBM stock increased in value by $\$ 15,000$.
- Collected $\$ 12,000$ in unempl oyment benefits.
A)$16,000
B)$28,000
C)$33,000
D)$34,000
E)$54,000

Question

Quizplus · Accepted Answer

The gross income from the following items of economic income is:
- Salary: $25,000
- Interest income: $1,000
- Capital gains: $2,000
- Rental income: $0
- Dividend income: $0
Total income = $25,000 + $1,000 + $2,000 + $0 + $0 = $28,000. Therefore, the answer is B.

How Much Gross Income Does Ron Have from the Following $5,000\$ 5,000$5,000

How Much Gross Income Does Ron Have from the Following $\$ 5,000$