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In-s [12.5K]
2 years ago
6

julia suffered a severe stroke and has been admitted to a private hospital where she is expected to remain for the rest of her l

ife. She is certified by a licensed health care practitioner as being a "chronically ill individual." Her hospital expenses amount to $280 per day. She will receive $270 per day from a $500,000 life insurance policy as an accelerated death benefit. In 2014, she was in the hospital for 10 days and received $2,700. How much of this amount is taxable
Business
1 answer:
Musya8 [376]2 years ago
6 0

Answer:

0

Explanation:

Because she is a chronically ill individual, Julia may exclude the full amount she receives as it is less than the amount of actual expenses and the daily limitation of $300 established by law.

That's why the taxable amount is 0.

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