Jillian is asked to forecast ticket sales at the stadium for next year. Her boss, the team’s general manager, tells her to analyze internal budgets, market share, and inputs from niche markets. Jillian will use demand
forecasting.

On september 1, 2016, steve loaned brett $2,000 at 12% interest compounded annually. steve is not in the business of lending money. the note stated that principal and interest would be due on august 31, 2018. in 2018, steve received $2,508.80 ($2,000 principal and $508.80 interest). steve uses the cash method of accounting. what amount must steve include in income on his income tax return?