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Author Question: Mae Li is beneficiary of a $70,000 insurance policy on her father's life. Upon his death, she elects ... (Read 79 times)

Bob-Dole

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on: Sep 13, 2020
Mae Li is beneficiary of a $70,000 insurance policy on her father's life. Upon his death, she elects to receive the proceeds in installments from the insurance company that carries the policy. She will receive $16,000 per year for five years. What are the tax consequences each year?
◦ All $16,000 each year is taxable.
◦ $10,000 interest is taxable in the first year.
◦ There is no taxable income.
◦ $2,000 of the $16,000 payment is taxable each year.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by Bob-Dole on Sep 13, 2020

todom5090

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Bob-Dole

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Reply 2 on: Sep 13, 2020
YES! Correct, THANKS for helping me on my review

upturnedfurball

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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