Social Studies, 18.10.2019 21:10 elstone01
Irene’s husband passed away this year. after his death, irene received $250,000 of proceeds from life insurance on her husband, and she inherited her husband’s stock portfolio worth $750,000. what amount must irene include in her gross income?
a. $1 million
b. $750,000
c. $500,000
d. zero but only if irene does not opt to receive the life insurance proceeds in a lump sum
Answers: 1
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Irene’s husband passed away this year. after his death, irene received $250,000 of proceeds from lif...
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