Ask Question
30 April, 07:55

Joanna received $68,400 compensation from her employer, the value of her stock in ABC company appreciated by $8,600 during the year (but she did not sell any of the stock), and she received $44,400 of life insurance proceeds from the death of her husband. What is the amount of Joanna's gross income from these items?

+1
Answers (1)
  1. 30 April, 10:00
    0
    The answer is: $68,400

    Explanation:

    The total amount of Joanna's gross income should only include the $68,400 she received from her employer.

    It doesn't matter if the price of any stock she owns has gone up of down, since she didn't sell any of it.

    The money she received from her late husband's life insurance policy is not taxable.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Joanna received $68,400 compensation from her employer, the value of her stock in ABC company appreciated by $8,600 during the year (but ...” 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