John Doe had earned commissions on life insurance sold prior to his death. The commissions of $20,000

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John Doe had earned commissions on life insurance sold prior to his death. The commissions of $20,000 were to be paid in five annual installments. The executor of his estate collected the first installment of $4,000 and distributed the right to the remaining installments to his son, a beneficiary of the estate. How will the remaining four installments be reported for income tax purposes?

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CCH Federal Taxation Basic Principles 2020

ISBN: 9780808051787

2020 Edition

Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback

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