Naomi Was the Beneficiary of a $100,000 Insurance Policy on Her

Essay

Naomi was the beneficiary of a $100,000 insurance policy on her mother who died in January 2011. It took the insurance company several months to make the payment so she received $100,206 in May 2011. She was a joint tenant on a bank account with her mother. She inherited the $14,000 in the account that had all been deposited by her mother. After a long battle with her medical insurance company, Naomi received a $6,000 reimbursement in 2011 for an operation that she underwent in 2010. As a result of her high medical expenses, she was able to take a $7,000 deduction by itemizing on her 2010 tax return rather than taking the $5,700 standard deduction. What are Naomi's taxable income items from these events for 2011?