Sharisma suffered a serious stroke and was admitted to a nursing home for 140 days. Nursing home charges, including physician fees and other related expenses were $63,000. Under Sharisma's long-term care insurance contract, she received reimbursements of $56,000. How much of the $56,000 reimbursement must be included in Sharisma's gross income in 2018?
A) $0
B) $5,600
C) $56,000
D) $7,000
B) $5,600
$360/day × 140 days = $50,400 is the limit on the exclusion. $56,000 - 50,400 = $5,600 is taxable.
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