Marie’s father died on July 17, 2022 leaving her the sole beneficiary of his life insurance policy. On November 12, 2022, Marie received the $250,000 lump-sum death benefit from the policy and $225 in interest income on the proceeds. What is the taxable income Marie should report for 2022?
Marie’s father died on July 17, 2022 leaving her the sole beneficiary of his life insurance policy. On November 12, 2022, Marie received the $250,000 lump-sum death benefit from the policy and $225 in interest income on the proceeds. What is the taxable income Marie should report for 2022?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Marie’s father died on July 17, 2022 leaving her the sole beneficiary of his life insurance policy. On November 12, 2022, Marie received the $250,000 lump-sum death benefit from the policy and $225 in interest income on the proceeds. What is the taxable income Marie should report for 2022?
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