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Business, 03.03.2020 18:28 puremousetail
Donald was killed in an accident while he was on the job in 2015. Darlene, Donald's wife, received several payments as a result on Donald's deaths. What is Darlene's gross income from the items listed below? a. Donald's employer paid Darlene and amount equal to Donald's 3 months' salary ($60,000) which is what the employer does for all widows and widowers of deceased employees. b. Donald had $20,000 in accrued salary that was paid to Darlene c. Donald's employer had provided Donald with group term life insurance of $480,000 (twice his annual salary), which was payable to his widow in a lump sum. Premiums on his policy totaling $12,500 had been included in Donald's gross income under 79 d. Donald had purchased a life insurance policy (premiums totaled $250,000) that paid $60,000 in the even of accidental death. The proceeds were payable to Darlene, who elected to receive installment payment as an annuity of $30,000 each year for a 25 year period. She received her first installment this year
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Donald was killed in an accident while he was on the job in 2015. Darlene, Donald's wife, received s...
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