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Unformatted text preview: gross income (for taxable year 2009 only): $6,800 $2,400 exclusion = $4,400 included in gross income. Prior to 2009, unemployment compensation was fully includible in gross income. The $5 cost of the lottery ticket could be deductible as a miscellaneous itemized deduction when taxpayer selects itemized deduction rather than stand deduction. Neither the $12,000 loan nor the $2,000 savings account withdrawal are included in gross income....
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This note was uploaded on 04/26/2010 for the course ACCOUNTING 2251 taught by Professor Sieux during the Spring '08 term at CSU East Bay.
- Spring '08