Read the case on which your Portfolio Project is based and determine all items that will be excluded from gross income. In a MS Excel spreadsheet, list all excluded items in column A. In column B, explain why the item is excluded. You may reference the specific tax law, the text (make sure you include the page number), or a link to another trusted source. A trusted source is either supported by the IRS or academic literature (that includes textbooks) under which tax law for the year 2017 is applicable.
This assignment should be delivered using the MS Excel spreadsheet that lists the excluded items and the supporting information on which your decision is based.