asked 231k views
2 votes
Hal Gore won a $1.5 million prize for special contributions to environmental research. This prize is awarded for public achievement, and Hal directed the awarding organization to transfer $517,500 of the award to the Environmental Protection Agency. How much of the prize should Hal include in his gross income?A. $517,500.B. $982,500.C. $1.5 million.D. None of the choices are correct because all prizes are excludible.E. None of the choices are correct because prizes from charities are excludible.

1 Answer

2 votes

Answer:

Hal should report 982,500 answer B

answered
User Ivan Tsirulev
by
8.6k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.