Christie sued her former employer for a back injury she suffered on the job in 2018....

Christie sued her former employer for a back injury she suffered on the job in 2018. As a result of the personal injury, she was partially disabled. in 2019, she received $240,000 for her loss of future income, $100,000 workers compensation, $160,000 in punitive damages because of the employers flagrant disregard for the employers safety, and $15,000 for medical expenses. The medical expenses were deducted on her 2018 return, reducing her taxable income by $12,000. Christie's 2019 gross income from the above is:

a. $500,000 b. 412,000 c. 255,000 d. $175,000 e. $172,000

Solutions

Expert Solution

Christie's 2019 gross total Income :

Particulres Amount

Compensation received on loss of future Income $240,000

Workers Compensation $100,000

Received Punitive Damages $160,000

Gross total Income $500,000

Answer a. $ 500,000.

ekkarill92 answered 1 year ago

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