Kathryn is a cash method taxpayer who reports on a calendar-year. Last year Kathrynreceived salary...
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Kathryn is a cash method taxpayer who reports on a calendar-year. Last year Kathrynreceived salary of $88,000 and at year-end his employer announced that Kathryn would receive an additional year-end bonus of $10,000 in cash and a new TV worth $2,000.Kathryn didn't receive his bonus check until January of this year and the TV didn't arrive until March of this year. Determine the amount Kathryn should include in his gross income for last year.
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