Sam and Ann Hoyt filed a joint federal income tax return for the calendar year 2019. Among the Hoyts' cash receipts during 2019 was the following: $6,000 first installment on a $75,000 life insurance policy payable to Ann in annual installments of $6,000 each over a 15-year period, as beneficiary of the policy on her uncle, who died in 2018. What portion of the $6,000 installment on the life insurance policy is excludable from 2019 gross income in arriving at the Hoyts' adjusted gross income?
A. $6,000
B. $1,000
C. $0
D. $5,000
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