Early in the Year, Marion Was in an Automobile Accident

question 4

Multiple Choice

Early in the year, Marion 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: ​
What is the amount that Marion must include in gross income for the current year?

• A)$25,000.
• B)$15,000.
• C)$12,500.
• D)$10,000.
• E)$0.

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Definitions:

Motion

A formal request made to a court or judge seeking an order or ruling on a particular matter within a legal case.

Verdict

A verdict is the decision made by a jury or judge on the matters submitted to them in a trial, determining the outcome of the case.

Writ of Execution

A writ that puts in force a court’s decree or judgment.

Exempt Property

Assets that are protected by law from being taken by creditors to satisfy debts.