During tax year $203,$ Deborah Dawson purchased a $$100,000$ whole$-$life insurance policy, on which she named her son Don Dawson the beneficiary. Between the $203$ purchase date and May $7,20\backslash$times $9,$ Deborah made premium payments of $$20,000.$ On May $7,209,$ Deborah sold the policy to Larry Lawson for cash of $$15,000.$ Larry immediately named himself the policy beneficiary and began making the annual premium payments. Deborah died on August $23,2014.$ While owner of the policy, Larry made premium payments of $$11,000.$ Larry has just received the policy proceeds of $$100,000.$ How much income, if any will Larry report on his Form $1040$ for tax year $2014?$

$\backslash$table$[[$A$,$$$100,000$