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Emma received the following items during the year pursuant to a divorce decree: Family...

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Accounting

Emma received the following items during the year pursuant to a divorce decree:

  • Family SUV with a FMV of $20,000
  • Alimony received from her ex-husband of $8,500 (Pre-Tax Cuts & Jobs Act Alimony)
  • Child Support of $12,000

What amount should Emma include in her Gross Income?

Group of answer choices

$8,500.

$12,000.

$20,500.

$28,500.

Answer & Explanation Solved by verified expert
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