In 2021, Khalid and Rashad had an automobile accident caused by Khalid's negligence. Rashad received...
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Accounting
In 2021, Khalid and Rashad had an automobile accident caused by Khalid's negligence. Rashad received $20,000 for the loss of income while he was recovering from the accident which was clearly a physical injury. The payments were received in 2021. As a result of the above, Rashad must include in gross income:
$41,000
$20,000
$6,000
$0
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