Holly was injured while working in a factory and received $12,000 as workers' compensation while she was

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Holly was injured while working in a factory and received $12,000 as workers' compensation while she was unable to work because of the injury. Jill, who was self employed, was also injured and unable to work. Jill collected $12,000 on an insurance policy she had purchased to replace her loss of income while she was unable to work. How much are Holly and Jill each required to include in their gross income?
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South Western Federal Taxation Individual Income Taxes 2017

ISBN: 9781305873988

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen

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