I suppose the answer would be seven. There were six shark attacks that resulted in death: the girl at the very beginning, the dog, the little boy (Alex Kintner), the guy in thâ¦e lagoon who gets his leg bitten off, Ben Gardner, and Quint the shark hunter.
Code Section 451(d) provides that, under certain circumstances, crop producers reporting on the cash method of accounting may elect to include crop insurance and disaster payments in income of the tax year following the taxable year of crop destruction or damage.
However, if the life insurance death benefit is paid in installments instead of a lump sum, the interest portion (if any) is taxable. The principal is tax-free. The insurance proceeds may be included in the taxable estate of the owner. Not to worry, though...the estate tax exclusion is over $5.3 million.