Charles and Camilla divorced in 2018. Under the terms of the…
Charles and Camilla divorced in 2018. Under the terms of the decree, Charles pays Camilla $50,000 in cash in each of the next twenty years (or until Camilla’s death or remarriage). In addition, Charles transferred a castle worth $2,000,000 to Camilla in 2018 and will pay $12,000 per year to support their son, Clyde, until he turns 19 years old. What amount (if any) is included in Camilla’s gross income in 2025?