Business, 22.11.2019 04:31 jacksonshalika

Sam died on january 15, 2010 and left his wife, terry, an insurance policy with a face value of $100,000. terry elected to receive the proceeds over a 10-year period ($10,000 plus interest each year). this year terry receives $11,500 ($10,000 proceeds plus $1,500 interest) from the insurance company. how much income must terry report from this payment?

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Sam died on january 15, 2010 and left his wife, terry, an insurance policy with a face value of $100...