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Polly died on Jan. 14, 2016. Carl, her husband, is the beneficiary of a 100,000 life insurance policy on Polly's life. He elects to receive
Polly died on Jan. 14, 2016. Carl, her husband, is the beneficiary of a 100,000 life insurance policy on Polly's life. He elects to receive the proceeds in 10 equal installments of 12,500. In the current year, Carl receives 12,500. How much must Carl include in gross income in the current year
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