Final answer:
Prizes, gambling winnings, and awards are generally taxable cash receipts. Loan proceeds are not taxable since they're debt obligations, and child support payments are not taxable to the recipient.
Step-by-step explanation:
The question pertains to which types of cash receipts are taxable to the recipient. In the United States, there are certain types of income that are subject to tax, while others are not. The following cash receipts are generally considered taxable:
- Prizes: Monetary prizes are considered taxable income.
- Gambling winnings: These are considered a form of taxable income.
- Awards: Cash awards are generally taxable unless they are qualified scholarships.
However, loan proceeds are not considered taxable because they are not income; they are a debt that must be repaid. Similarly, child support payments are not taxable income to the recipient. The recipient of child support does not have to pay taxes on these amounts, and the payer cannot deduct them from their taxable income.
The cash receipts that are taxable to the recipient from the options given are loan proceeds, gambling winnings, and awards.
Loan proceeds are generally not taxable income because they are considered borrowed money and not earned income. However, if the loan is forgiven, it may be taxable.
Gambling winnings are taxable income because they are considered income from hobbies and recreational activities. The recipient is required to report the winnings on their tax return.
Awards are also generally taxable income, unless specifically excluded by the tax laws. Certain types of awards, such as scholarships for education, may be exempt from taxation.