Fran dies on January 14,2016.Her spouse,Carl,is the beneficiary of a $100,000 life insurance policy.Carl elects to receive the proceeds in 10 equal installments of $11,000.In 2016,Carl receives $11,000.The amount included in Carl's 2016 gross income is
A) $- 0 -
B) $1,000
C) $10,000
D) $11,000
E) $111,000
Correct Answer:
Verified
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