Ask Question
22 August, 04:25

Hal gore won a $1 million prize for special contributions to environmental research. this prize is awarded for public achievement, and hal directed the awarding organization to transfer $400,000 of the award to the environmental protection agency. how much of the prize should hal include in his gross income

+1
Answers (1)
  1. 22 August, 07:51
    0
    His gross income would be $1 million but he should get some credit for the$400,000 donation as a percentage of that amount so this would reduce his income tax for that year accordingly and benefit him for his generosity.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Hal gore won a $1 million prize for special contributions to environmental research. this prize is awarded for public achievement, and hal ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers