Law, 07.07.2021 02:50, june745

On February 2019, Melinda applies and nominates herself for the prestigious North American Literary Prize. In June 2019, she wins the prize for her academic and literary works. The award comes with a $1,000,000 cash prize that Melinda then donates to the City of Denver. Melinda is not required to take any action after receiving the cash prize. Is Melinda required to include the cash award in Gross Income?

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On February 2019, Melinda applies and nominates herself for the prestigious North American Literary...