Cassie is preparing her federal income tax return. Which of the following items should be excluded from Cassie's gross income?
Royalties received by Cassie for her best-selling novel.
$100,000 in cash received by Cassie when her grandmother died.
Alimony received by Cassie from her ex-husband.
$5,000 of gain resulting from the sale of Cassie's favorite painting.
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