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Lacy received taxable proceeds from a class action lawsuit in the amount of $400,000. She has $100,000 of the proceeds paid directly to her elderly
Lacy received taxable proceeds from a class action lawsuit in the amount of $400,000. She has $100,000 of the proceeds paid directly to her elderly mother to help with her expenses. How much must Lacy include as taxable income from the lawsuit procteds? A) $100,000 B) $0 C) $400,000 D) $300,000
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