Question: Phyllis sued Martin s estate and won a 65 000 settlement

Phyllis sued Martin’s estate and won a $ 65,000 settlement. She showed the probate court that she carried out her end of a compensatory arrangement with her companion, under which she provided “traditional wifely services” without benefit of matrimony during Martin’s life in exchange for all of his estate. Martin left his entire estate to his faithful dog Sparky, via a trust. How much gross income is recognized by Phyllis?

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  • CreatedOctober 30, 2015
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