Linda Sue Carr worked for a large food brokerage firm. In January of this year she was
Question:
Linda Sue Carr worked for a large food brokerage firm. In January of this year she was terminated. After a court battle Linda Sue was reinstated in her job and received from the firm in November $7,500 in punitive damages. Must Linda Sue include the $7,500 in punitive damages in her 2019 gross income?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
In the United States punitive damages received by an individual are generally considered tax...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3+ Reviews
10+ Question Solved
Related Book For 
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
Question Posted:
