How much should the wife include in her gross income


A taxpayer died on July 1, current tax year, and left his wife a $50,000 life insurance policy which she elects to receive $5,000 per year plus interest for 10 years. In the current tax year, the wife received $6,200. How much should the wife include in her gross income.

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Accounting Basics: How much should the wife include in her gross income
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