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Jianying was injured in an automobile accident caused by another driver. Her son, Christian, was in the automobile but not physically injured. The other driver's
Jianying was injured in an automobile accident caused by another driver. Her son, Christian, was in the automobile but not physically injured. The other driver's insurance company was required by a court to pay Jianying $55,000 to cover medical bills relating to her injuries, $20,000 to compensate her for emotional distress attributable to the injuries and $60,000 of punitive damages. Christian was paid $25,000 to compensate him for emotional distress attributable to his witnessing his mother's injuries. What is the amount taxable to Jianying? Select one: a. $60,000 b. $105,000 c. $80,000 d. $135,000 Jonison has AGI of $150,000. He intends to contribute $10,000 to the San Francisco State University. She should donate which of the following assets Select one: a. $10,000 of cash b. LG stock purchased 2 years ago for $13,000 with a cureent FMV of $10,000 c. Westinghouse stock purchased six months ago for $3,000 with a current FMV of $10,000 d. Teledyne stock purchased three years ago for $8,000 with a current FMV of $10,000
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