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During 2018, Jane had the following transactions: Dividend income from Google Stocks $50,000 Interest income from US Government Bonds 6.000 Life insurance proceeds 5,000 In
During 2018, Jane had the following transactions:
Dividend income from Google Stocks $50,000
Interest income from US Government Bonds 6.000
Life insurance proceeds 5,000
In addition, under a divorce agreement entered into in 2017, John is required to make periodic alimony payment of $1,000 per month to Jane. However, when John and Janes child reaches age 21, marries, or dies (whichever occurs first), the payments will be reduced to $800 per month. Jane has custody of the child.
Janes amount excluded from gross income or exclusions in 2018 is:
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