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Business, 21.06.2020 01:57 mckenziet73

Carin, a widow, elected to receive the proceeds of a $150,000 life insurance policy on the life of her deceased husband in 10 installments of $17,500 each. Her husband had paid premiums of $60,000 on the policy. In the first year, Carin collected $17,500 from the insurance company She must include the gross income:

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Carin, a widow, elected to receive the proceeds of a $150,000 life insurance policy on the life of h...
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