[noamsamuels]

Mrs. Wai Yan is a full-time employee for a local manufacturing company. She maintains a principal residence in State X for her daughter (Janice), age 15, and herself. Wai hasn’t heard from her husband since he left in February of Year 5. Wai also provides 75% of her mother-in-law’s support, who currently lives in her own home but may need to move in with Wai in the next few years. Wai received $12,000 in Year 5 as a gift from her mother-in-law.

During the Year 5 tax year, the following income was realized by Wai and her daughter.

Wai Yan and Janice Yan
Year 5 Income
Income Sources Wai (3) Janice
W-2 Income $ 72,000 $ 1,800
Bank savings account interest 150 225
Interest on CDs (1) 1,100
Qualified cash dividend 620 310
Stock dividend (2)
Group term life insurance premium income 200
Gambling winnings 600 300

My question is on the answer key when filling out the 1040 under wages it includes the 72,000 but also the 200 in group term life insurance premium income. However, there is no indication this is past the first $50,000 of coverage, therefore why is this includable in income?