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11)While driving, Max is involved in a car crash. While he is not injured, his...

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Accounting

11)While driving, Max is involved in a car crash. While he is not injured, his car is destroyed. As
part of the settlement with the counterparty, Max receives $15,000 for emotional distress, $1,000
for being unable to go to work for a week, and $12,000 for punitive damages against the other
driver, who was drinking. What must Max include in his gross income?
12)Later, Max is walking home and falls through an open manhole cover and is injured. He sues the
city of San Antonio and the city settles with him. As part of the settlement, Max received $5,000
for his unreimbursed medical expenses, $2,000 for being unable to go to work while recovering,
and $12,000 in punitive damages for the city's negligence. What must Max include in his gross
income?
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