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What john income tax consequences are for tax return

Assignment Help Taxation
Reference no: EM131725476

Discussion: Gross income and exclusions

John received $100,000 cash from his company for his good work performance and he also received stock shares worth $200,000 from his father upon his death in 2017. On December 31, 2017, he received cash dividend in the amount of $5,000 from his inherited stock. John came to you to know what his INCOME tax consequences are for 2017 tax return. How would you advise him?

(Note: You don't need to calculate tax liability. Simply address Gross Income and Exclusions)

Reference no: EM131725476

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