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Janie, a widow, elected to receive the proceeds of a $100,000 face value insurance ...

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Finance

Janie, a widow, elected to receive the proceeds of a $100,000 face value insurance
policy on the life of her deceased husband in ten annual installments of $11,900
each including interest (beginning last year). In the current year, she received
$11,900, which included $1,900 interest. Janie dies in December of the current year
after collecting the current year's payment. What is the amount subject to income
tax on her final tax return?
$1,900
$0
$6,900
$5,000
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