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Jameson received a court award for $100,000 for damages to his personal reputation by the...

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Question

Accounting

Jameson received a court award for $100,000 for damages to his personal reputation by the National Gossip. He also received $50,000 in punitive damages. Jack must include in his gross income as a damage award:

a.

$0.

b.

$50,000.

c.

$100,000.

d.

$150,000.

e.

None of the above.

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