Kevin provided services to several clients this year who paid with different types of property. Which...

Kevin provided services to several clients this year who paid with different types of property. Which of the following payments is not included in Kevin's gross income?

Multiple Choice

Cash.
Shares of stock listed on the New York Stock Exchange.
A used car.
Gold coins.
All of these are included in gross income.

Solutions

Expert Solution

Consideration received in any form is included in gross income for services provided.

So consideration received in form of cash,Shares, used car,Gold coins all are to be included in gross income

Option E All of these are included in gross income is correct

ekkarill92 answered 1 year ago

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