If I make 50,000 in wages 1000 in interest 22 fmv Christmas ham 1500 and childcare how much gross income do I report?

If I make 50,000 in life wages 1000 in interest 22 fmv Christmas ham 1500 and childcare how much gross income do I report

posted

Connect with an expert

1 Best answer

Accepted Solutions

If I make 50,000 in wages 1000 in interest 22 fmv Christmas ham 1500 and childcare how much gross income do I report?

$52,500. The $22 Xmas ham qualifies as a de minimis gift and is not reportable.

Any expenses associated with the child care income, including the use of your home, would reduce the net (but not gross) income

View solution in original post

2 Replies

If I make 50,000 in wages 1000 in interest 22 fmv Christmas ham 1500 and childcare how much gross income do I report?

$52,500. The $22 Xmas ham qualifies as a de minimis gift and is not reportable.

Any expenses associated with the child care income, including the use of your home, would reduce the net (but not gross) income

If I make 50,000 in wages 1000 in interest 22 fmv Christmas ham 1500 and childcare how much gross income do I report?

Sounds like a homework question.

Still have questions?