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Early in the year, Marlon was in an automobile accident during the course of his employment. As a result of the physical injuries he sustained, he received the following payments during the year: Reimbursement of medical expenses Marlon paid by a medical insurance policy he purchased $10,000 Damage settlement to replace his lost salary 15,000 What is the amount that Marlon must include in gross income for the current year

Respuesta :

ogorwyne

Answer:

$0

Explanation:

It is good to state that the Settlements that are associated with physical injuries are non-taxable. With an exclusion of bodily or physical injury

So Reimbursement & medical expenses for medical coverage or insurance that was bought for S10000 - and the settlement for the replacement of his salary of $15000 will not be a part of the gross income.

Therefore the gross income for the year is zero dollars.

Answer = $0

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