Acme Published a Story About Paul and as a Result

question 109

Multiple Choice

Acme published a story about Paul and as a result Paul sued Acme for damage to his reputation, emotional distress, and punitive damages.Paul won an award of $20,000 for damages, $5,500 for emotional distress, and $50,000 for punitive damages.What amount must Paul include in his gross income?

• A)$5,500
• B)$20,000
• C)$50,000
• D)$70,000
• E)$75,500