A taxpayer died on july 1 current tax year and left his, Ask an Expert

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A taxpayer died on July 1, current tax year, and left his wife a $50,000 life insurance policy which she elects to receive $5,000 per year plus interest for 10 years. In the current tax year, the wife received $6,200. How much should the wife include in her gross income.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947684

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