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Basma was put in a nursing home with advanced dementia in early March. The doctors at the nursing home have determined her to be chronically

Basma was put in a nursing home with advanced dementia in early March. The doctors at the nursing home have determined her to be chronically ill. The monthly care at the facility runs $5,000 per month. Basma owns a $500,000 life insurance policy on her life and her son is the beneficiary. If Basma receives $50,000 from the policy to cover her care for the current year in the nursing home, how much of the $50,000 is taxable to her?

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