Actress Nola Talent sued her coworker, actor Burt Dirt, for slander, citing his speech at a press
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Actress Nola Talent sued her coworker, actor Burt Dirt, for slander, citing his speech at a press interview where he labeled her a "floozy" and an "incompetent excuse for an actress." In her suit she claimed that as a consequence of this slander she not only felt degraded but was denied further acting roles. The court awarded her \(\$ 100,000\) in compensatory damages for damage to her acting career and \(\$ 1,000\) in punitive damages for the slander of her character. How is this reflected in her income tax return?
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The tax treatment of the compensatory damages and punitive damages awarded to Nola Talent in her law...View the full answer
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Related Book For
CCH Federal Taxation 2019 Comprehensive Topics
ISBN: 9780808049081
2019 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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