john's mother passed away during 2019. She received $200,000 in life insurance proceeds. Because she was in school, her only other income was scholarships of $2,500 during 2019. What is john's taxable income?

john's mother passed away during 2019. She received $200,000 in life insurance proceeds. Because she was in school, her only other income was scholarships of $2,500 during 2019. What is john's taxable income?

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter2: Gross Income And Exclusions

Section: Chapter Questions

Problem 17P

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