Question
Which of the following are taxable? The Grants also received the following during the year: Interest income from First Kentucky Bank $130 Interest income from
Which of the following are taxable?
The Grants also received the following during the year: Interest income from First Kentucky Bank $130
Interest income from City of Lexington, KY Bond $450
Interest income from U.S. Treasury Bond $675
Interest income from Nevada State School Board Bond $150
Workers compensation payments to Bob $4,350
Disability payments received by Bob due to injury $3,500
National Storage paid 100% of the premiums on the policy and included the premium payments in Bobs taxable wages
Melissa received the following payments due to a lawsuit she filed for damages sustained in a car accident:
-Medical Expenses for physical injuries $2,500
-Emotional Distress (from having been physically injured) $12,000
Punitive Damages $10,000
Total $24,500
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