905.22
This is the Answer just did it with my teacher and said it was right
Answer:
$1,450
Explanation:
Rhett made his annual gambling trip to Uwin Casino. On this trip Rhett won $250 at the slots and $1,200 at poker.
Also this year, Rhett made several trips to the racetrack, but he lost $700 on his various wagers.
The amount must Rhett include in his gross income includes that on this trip Rhett won $250 at the slots and $1,200 at poker which is $1,450
The internal Revenue Service requires that <u>''You must report all gambling winnings as "Other Income".</u> When you have gambling winnings, you may be required to pay an estimated tax on that additional income.