Rhett made his annual gambling trip to Uwin Casino. On this trip Rhett won $250 at the slots and $1,200 at poker. Also this year, Rhett made several trips to the racetrack, but he lost $700 on his various wagers. What amount must Rhett include in his gross income?
A. $0-gambling winnings are not included in gross income
B. $750
C. $1,450
D. $250
E. $1,200
Answer: C
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