Social Studies, 06.05.2020 02:58, mrgoggles12

Olaf was injured in an automobile accident and received $25,000 for his physical injury, $50,000 for his loss of income, and $10,000 punitive damages. As a result of the award, the amount Olaf must include in gross income is:

a. $10,000.
b. $50,000.
c. $60,000.
d. $85,000.
e. None of these.

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Olaf was injured in an automobile accident and received $25,000 for his physical injury, $50,000 for...