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| Teaching Since: | May 2017 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
1.    LO.2 Fred specified in his will that his nephew John should serve as executor of Fred’s estate. John received $10,000 for serving as executor. Can  John
exclude the $10,000 from his gross income? Explain.
2.    LO.2 Leonard’s home was damaged by a fire. He also had to be absent from work for several days to make his home habitable. Leonard’s employer paid Leon-
ard his regular salary, $2,500, while he was absent from work. In Leonard’s pay en-
velope was the following note from the employer: To help you in your time of  need. Leonard’s fellow employees also took up a collection and gave him $900. Leonard spent over $4,000 repairing the fire damage.
Based on the above information, how much is Leonard required to include in his gross income?
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