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David is certified by his doctor as terminally ill with liver disease. His doctor certifies that he cannot reasonably be expected to live for more
David is certified by his doctor as terminally ill with liver disease. His doctor certifies that he cannot reasonably be expected to live for more than a year. He sells his life insurance policy to Viatical Settlements, Inc., for $ He has paid $ so far for the policy. How much of the $ must David include in his taxable income?
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