Business
Business, 15.11.2019 07:31, kobiemajak

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 in gross income:
a. $0.
b. $2,500.
c. $10,000.
d. $25,000.
e. none of these.

answer
Answers: 3

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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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