An Electrician Completes a Rewiring Job and Is Paid $1,000

question 84

Multiple Choice

An electrician completes a rewiring job and is paid $1,000 by the customer in November.The customer has a small fire in his house and sues the electrician for the repayment of the $1,000 fee plus damages in December.The electrician reaches a settlement with the customer in the following February and refunds the $1,000 fee.How should the electrician treat these events when he files his tax return in April?

• A)No income will be reported.
• B)The income will be reported for the year of receipt,and a tax deduction will be claimed on the tax return for the year of repayment.
• C)The income will be reported for the year of receipt,and then an amended return will be filed in the following year to claim the refund.
• D)Both the income and the deduction will be reported on the same tax return (for the year of receipt).

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Definitions:

Sexist

Prejudice, stereotyping, or discrimination, typically against women, on the basis of sex.

Women's Bodies

Refers to the physical aspects of female humans, often highlighting the diverse physiological, reproductive, and health-related dimensions.

Professional

An individual who possesses specialized knowledge and skills in a particular field and adheres to the standards and ethics of the profession.

Symbolic Interactionism

A sociological perspective that explores how individuals create and modify their social reality through interaction, using symbols and shared meanings.