Research Problem 2. Your client was the beneciary of an annuity contract purchased by her stepmother. When the stepmother died, the insurance company paid the client 5400.000 and sent her a Form 1099 indicating that the taxable portion [Lee the amount in excess of the investment in the contract] was $50,000. However: according to the client. her father fraudulently convinced her that he was the intended beneciary. She gave her father a chedtequal to the amount she had received from the Insurance company She did not report any of the annuity proceeds in her income tax return. She later discovered the fraud and filed a lawsuitto collect from her father. The IRS has exarnined your ciient's return and has taken the position that she must include the $50,000 in her gross income. Evaluate the 135's position