Business, 07.04.2020 21:24 Bearboy1564
Carla is the owner and beneficiary of a $300,000 policy on the life of her father. Carla sells the policy to her sister, Paula, for $100,000. Paula later pays premiums of $45,000. Upon her father's death, how much of the insurance proceeds must Paula include in income?
A. $0
B. $155,000
C. $45,000
D. $300,000
Answers: 1
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Carla is the owner and beneficiary of a $300,000 policy on the life of her father. Carla sells the p...
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