Ashily collected 5150,000 on her decoased husband's lfo instarance policy She ctocted to colloct the...
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Accounting
Ashily collected 5150,000 on her decoased husband's lfo instarance policy She ctocted to colloct the policy in 10 equal annual payments of $18,000 each A) None of the payments must be included in Ashloy's gross incorne B) The amount she roceives in the first yoar is a nontaxable return of capital C) For each $18,000 payment that Itis roceives, she will include the entire arnount as taxable income. D) For each $18,000 peymmet that ins receives, she can exclude $15,060 (\$150,000/\$180,000 $18,000) from gross income
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