Basma was put in a nursing home with advanced dementia in early March. The doctors...
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Basma was put in a nursing home with advanced dementia in early March. The doctors at the nursing home have determined her to be chronically ill. The monthly care at the facility runs $ per month. Basma owns a $ life insurance policy on her life and her son is the beneficiary. If Basma receives $ from the policy to cover her care for the current year in the nursing home, how much of the $ is taxable to her?
Basma was put in a nursing home with advanced dementia in early March. The doctors at the nursing home have determined her to be chronically ill. The monthly care at the facility runs $ per month. Basma owns a $ life insurance policy on her life and her son is the beneficiary. If Basma receives $ from the policy to cover her care for the current year in the nursing home, how much of the $ is taxable to her?
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