In 2021, Greg was hurt in the course of his employment with Foster Farms. In 2021, Greg was paid the following amounts from Foster Farms' worker's compensation insurance company:

$20,000 for a physical injury suffered by Greg
$40,000 for replacement wages when Greg was unable to work
$50,000 for physical pain suffered by Greg

How much of the above does Greg include in his taxable income for 2021?

Group of answer choices

$20,000

$40,000

$0

$50,000

In 2020, Jeremy bought a U.S. Government Treasury bond for $30,000, and a State of California Bond for $40,000. Jeremy is a resident of California. In 2021, Jeremy earned $300 of interest on the U.S. Government Treasury Bond, and $250 of interest on the State of California bond. On Jeremy's 2021 Federal Income Tax Return, which of the following is true?

Group of answer choices

Jeremy includes $550 of interest income on his 2021 Federal Income Tax Return.

Jeremy includes $250 of interest income on his 2021 Federal Income Tax Return.

Jeremy includes $300 of interest income on his 2021 Federal Income Tax Return.

Jeremy includes $0 of interest income on his 2021 Federal Income Tax Return.

Answer rating: 100% (QA)

0 According to the IRS Work ers compensation payments yo... View the full answer