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Q2.10 - 3 points Refer to the information in Q2.1a. What is one legal way Billie could have potentially structured the transactions to reduce the
Q2.10 - 3 points Refer to the information in Q2.1a. What is one legal way Billie could have potentially structured the transactions to reduce the effect on gross income? Answer: Q2.1a - 5 points n 2018, Billie was in an automobile accident and suffered physical injuries. In 2019, Billie collected the following from her insurance company. She received $25,000 for loss of income, $10,000 for pain and suffering, $50,000 for punitive damages, and 6,000 for medical expenses which she had deducted on her 2018 tax return (the amount in excess of the of adjusted gross income threshold). She was also reimbursed $3500 for auto repairs. Required: How much did Billie's gross income increase as a result of the above transactions
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