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What amount is taxable to Kim

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Reference no: EM132655721

Problem - Kim was seriously injured at her job. As a result of her injury, she received the following payments:

$5,000 reimbursement from employer-provided health insurance for medical expenses paid by Kim. The premiums this year paid by Kim's employer totaled $6,000.

$15,000 disability pay. Kim has disability insurance provided by her employer as a nontaxable fringe benefit. Kim's employer paid $6,000 in disability premiums this year on behalf of Kim.

$10,000 received for damages for personal physical injury.

$200,000 for punitive damages.

Required - What amount is taxable to Kim?

a. $215,000

b. $225,000

c. $236,000

d. $0

Reference no: EM132655721

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