Business, 26.02.2020 04:37, winterchadrick
Brian was injured in an automobile accident. The other driver's insurance company paid him $2500 to cover medical expenses and a compensatory amount of $5400 for pain and suffering. Brian should inlcude ($) of the medical expenses paid to him as gross income and ($) of the compensatory amount paid to him for pain and suffering as gross income.
A newspaper article stated that Eddie had been convicted of tax evasion. Eddie, in fact, had never been accused of tax evasion. He sued and won a compensatory settlement of $5500 from the paper. Eddie should include ($) as taxable gross income.
Hugo, who pays the cost of a commercial disability income policy, fell and injured his back. He was unable to work for six months. The insurance company paid him $2400 per month during the time he was unable to work. Hugo should include ($) for the year as taxable income for the six months he was unable to work,
Joshua fell and injured his knee. He was unable to work for four months. His employer financed disability income policy paid Joshua $1500 per month during the time he was unable to work. Joshua should inlcude ($) for the year as taxable income for the four months he was unable to work.
Ralph suffered a stroke. He was unable to work for five months. His employer continued to pay Ralph his salary of $2100 per month during the time he was unable to work. Ralph should include ($) for the year as taxable income for the five months he was unable to work.
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Brian was injured in an automobile accident. The other driver's insurance company paid him $2500 to...
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