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8_murik_8 [283]
3 years ago
13

Hal Gore won a $2.1 million prize for special contributions to environmental research. This prize is awarded for public achievem

ent, and Hal directed the awarding organization to transfer $570,000 of the award to the Environmental Protection Agency. How much of the prize should Hal include in his gross income?
Business
1 answer:
ioda3 years ago
8 0

Answer:

1.53 Million

Explanation:

The reason is that the Environment Protection Agency is a qualified organization and donations made to qualified organization are allowable expense under the US tax rules, so the gross income will include a net amount which is the actual amount left for Hal Gore and which is $1.53 million ($2.1 m - 0.57).

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If you stare at a red patch and then look at a red apple, will your experience of the redness of the apple be stronger or weaker
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4 0
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In general, education is correlated to income
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