True/False
In 2013,Theresa was in an automobile accident and suffered physical injuries.The accident was caused by Ramon's negligence.In 2014,Theresa collected from his insurance company.She received $15,000 for loss of income,$10,000 for pain and suffering,$50,000 for punitive damages,and $6,000 for medical expenses which she had deducted on her 2013 tax return (the amount in excess of 10% of adjusted gross income).As a result of the above,Theresa's 2014 gross income is increased by $56,000.
Correct Answer:

Verified
Correct Answer:
Verified
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