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How much the Gerrold must include in his gross income

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Question - Gerrold received a court award in a civil libel suit against Perry, a reporter for a major U.S. newspaper. Gerrold received $120,000 for damages to his professional reputation, $100,000 for damages to his personal reputation, and $50,000 in punitive damages. How much the Gerrold must include in his gross income as a damage award?

a. $100,000.

b. $120,000.

c. $0.

d. $270,000.

Reference no: EM132684156

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