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Barney Jones, age 61, was terminated from his job. Barney sued his employer under age discrimination and won a $1,000,000 settlement (compensatory) this year. Barney
Barney Jones, age 61, was terminated from his job. Barney sued his employer under age discrimination and won a $1,000,000 settlement (compensatory) this year. Barney invested the $1,000,0000 in a money market account this year (income $25,000). How much is income taxable this year?
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$1,000,000
$25,000
$1,025,000
$0
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