How much gross income is reported by robert

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Robert, a CPA, is owed $50,000 for consulting services provided to GR Systems. Robert is a cash basis taxpayer. On 12/31, Robert instructs GR Consulting to pay the $50,000 to Mary. Mary is an employee of Robert's CPA business who has earned a $50,000 bonus. GR Systems pays Mary $50,000 and also issues Mary Form 1099-Misc.

How much gross income is reported by Robert? By Mary?

Reference no: EM13131213

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