How Should a $300,000 Fee Collected by John Smith After Two Years of Work on a Personal Injury Case with a $2,000,000 Jury Verdict in His Clients Favor, Be Reported for Tax Purposes. Assignment

1 (A) The question is how should a $300,000 fee collected by John Smith after two years of work on a personal injury case with a $2,000,000 jury verdict in his clients favor, be reported for tax purposes. Under Internal…