Joanna received $60,000 compensation from her employer,the value of her stock in ABC company appreciated by $5,000 during the year (but she did not sell any of the stock),she received $30,000 of life insurance proceeds from the death of her husband.What is the amount of Joanna's gross income from these items?

Question

Quizplus · Accepted Answer

Joanna's gross income includes the $60,000 compensation from her employer. The appreciation in stock value is not included as income until the stock is sold, and life insurance proceeds are generally not taxable.

Joanna Received $60,000 Compensation from Her Employer,the Value of Her