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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Related Book For
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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