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All of the following amounts are excluded from gross income, except: a.Veterans' benefits b.Scholarship grants for tuition c.Gifts d.Tips and gratuities e.Child support payments

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Officialalehpeter
Officialalehpeter Officialalehpeter
  • 26-02-2020

Answer:

d. Tips and gratuities

Explanation:

Tips and Gratuities are not excluded from gross profit liable to tax. Tips serves as an additional income gotten as a result of you being a worker in an organization. It is an extra salary income.

Gratuity refers to the lump sum of money gotten after retirement. they are both included while calculating gross income.

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