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USA TAX. DON'T COPY ANSWERS Tom was injured in an automobile accident and received $30,000 for his physical injury, $5,000 in punitive damages, $6,000 lost
USA TAX. DON'T COPY ANSWERS
Tom was injured in an automobile accident and received $30,000 for his physical injury, $5,000 in punitive damages, $6,000 lost wages and $3,000 in workers compensation. His wife Tia received $ 10,000 for his loss of his services. As a result of the award, the amount Tom must include in gross income is?
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