Q's employer provided her with the following gifts and awards: a Golf shirt with an employer logo...
Question:
Q's employer provided her with the following gifts and awards: a Golf shirt with an employer logo valued at $30; a Weekend at a spa valued at $1,200 as a reward for meeting sales targets; a Holiday season gift (camera) valued at $200; Gift certificate of $150 to a local restaurant in recognition of her birthday.
What amount is included in Q's employment income for tax purposes?
Qualified income:
Qualified income is defined as any income that is derived from a source that is legal under federal, state, and local laws. It includes wages, salaries, tips, commissions, and self-employment income.
Answer and Explanation: 1
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Golf shirt with employer logo = $30
Weekend at spa = $1,200
Holiday season gift = $200
Birthday gift certificate = $150
Comput...
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