Ellie purchases an insurance policy on her life and names her brother, Jason, as the beneficiary....

Ellie purchases an insurance policy on her life and names her brother, Jason, as the beneficiary. Ellie pays $56,750 in premiums for the policy during her life. When she dies, Jason collects the insurance proceeds of $851,250.

As a result, Jason reports gross income of?

Expert Solution

ekkarill92 answered 2 years ago

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