When Is Life Insurance Subject To Income Tax?
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaLife Insurance subject To Income Tax in business situations where the death benefit proceeds are paid into a business entity, sometimes even characterized as a preference item triggering the alternative minimum tax. Life insurance income recognized as gain can also be taxed where the policy is issued as a modified endowment or surrendered with gain that was loaned and received as well as internal policy loans beyond basis.Answered on June 6, 2013+01+1 this answer
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