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vonald was killed in an accident while he was on the job. Darlene, Donald's wife, received several payments as a result of Donald's death Review

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vonald was killed in an accident while he was on the job. Darlene, Donald's wife, received several payments as a result of Donald's death Review the payments below and then enter the amount to be included in Darlene's gross income in the table provided. a. Donald's employer paid Darlene an amount equal to Donald's three months' salary ($28,600), which is what the employer does for all widows and widowers of deceased employees. b. Donald had $17,600 in accrued salary that was paid to Darlene. cDonald's employer had provided Donald with group term life insurance of $255.000, which was payable to his widow in a lump sum. Premiums on this policy totaling $14,500 had been included in Donald's gross income under $ 79. d. Donald had purchased a life insurance policy (premiums totaled $128,000) that paid $280,000 in the event of accidental death. The proceeds were payable to Darlene, who elected to receive installment payments as an annuity of $25,000 each year for a 30-year period. She recelved her first installment this year. If an amount is zero, enter "0". Round any division to two decimal places. Round your final answers to nearest whole dollar, Amount Received Amount Taxable a. Employer payments $28,600 28,600 b. $17,600 17,600 Accrued salary, earned before death Group term life insurance proceeds d. Life insurance proceeds, annuity c. $255,000 0 $25,000 Total Henrietta, the owner of a very successful hotel chain in the Southeast, is exploring the possibility of expanding the chain into a city in the Northeast. She incurs $53,000 of expenses associated with this investigation. Based on the regulatory environment for hotels in the oty. she decides not to expand. During the year, she also investigates opening a restaurant that will be part of a national restaurant chain. Her expenses for this are $53,000. She proceeds with opening the restaurant, and it begins operations on May 1. Determine the amount that Henrietta can deduct in the current year for investigating these two businesses In your computations, round the per-month amount to the nearest dollar and use rounded amount in subsequent computations. a. The deductible amount of investigation expenses related to expansion of her hotel chain into another city: 5 53,000 b. The deductible amount of investigation expenses related to opening a restaurant: $

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