IDNLearn.com provides a collaborative environment for finding accurate answers. Our experts provide prompt and accurate answers to help you make informed decisions on any topic.
Sagot :
Answer:
Melinda is required to include the cash prize in the Gross Income.
Explanation:
Gross Income is the total payment in cash, goods and services that a person received before tax reductions, that is, it is the general value of everything that a person received in a given period of time, including wages, premiums, real estate, among other things . In this case, we can confirm that the cash prize received by Melinda must be included in her Gross Income, in addition, if she has received a prize with an economic value, she must also include this prize in the Gross Income, even if she has donated .
We appreciate your contributions to this forum. Don't forget to check back for the latest answers. Keep asking, answering, and sharing useful information. Thanks for visiting IDNLearn.com. We’re dedicated to providing clear answers, so visit us again for more helpful information.