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How much income must Larry report for the current year

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Problem - On March 19, 2013, Karen dies and leaves Larry an insurance policy with a face value of $100,000. Karen is Larry's sister, and Larry elects to take the proceeds over 10 years ($10,000 plus interest each year). This year Larry receives $13,250 from the insurance company. How much income must Larry report for the current year?

Reference no: EM132705507

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