Christie sued her former employer for a back injury she suffered on the job in 2020. As a result of the injury, she was partially disabled. In 2021, she received $240,000 for her loss of future income, $160,000 in punitive damages because of the employer's flagrant disregard for the employee's safety, and $15,000 for medical expenses. The medical expenses were deducted on her 2020 return, reducing her taxable income by $12,000. Christie's 2021 gross income from the above is: a.$415,000. b.$255,000. c.$172,000. d.$412,000.

c.$172,000.

Explanation:

Christie must include in her AGI the $12,000 that she deducted from last year's income taxes and the $160,000 awarded to her as punitive damages = $12,000 + $160,000 = $172,000.

The $240,000 awarded as lost future income are not taxable because it is considered compensation for personal suffering and injury.

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