Generally, gross income includes which of the following? A Employee discount of 10% at retail shopping store B Gifts or bequests transfer made because of “affection” C Amounts received as compensatory damages for physical injury or physical sickness D Income earned from property received as a gift or inheritance
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It's a benefit provided by the employer and not considered as income. B) Gifts or bequests transfer made because of “affection” - These are not included in gross income. The IRS does not consider gifts or inheritances as income. Show more…
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