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Augustus1 Augustus1
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7 years ago
Derrick was in an automobile accident while he was going to work. The doctor advised him to stay home for eight months due to his physical injuries. The resulting lawsuit was settled and Derrick received the following amounts:
   Compensatory damages for physical injury   $80,000
   Punitive damages   95,000
How much of the settlement must Derrick include in ordinary income on his tax return?
A) $-0-
B) $80,000
C) $95,000
D) $175,000
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
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We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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MsLippyMsLippy
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7 years ago
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Augustus1 Author
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#2
7 years ago
Your explanation helped, amazing amazing!
We do not judge the people we love.

Prentice Hall's Federal Taxation by Kramer
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