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| On January 1, 2012, James Davis was awarded a postdoctorate fellowship grant of $30,000 by a tax-exempt educational organization. Davis is not a candidate for a degree and was awarded the grant to continue his research. The grant was awarded for the period March 1, 2012 through May 31, 2013.On March 1, 2012, Davis elected to receive the full amount of the grant. What amount should be included in his gross income for 2012? A. $0 B. $30,000 C. $20,000 D. $10,000 |