True/False
Except in the case of qualifying accelerated death benefits,if a life insurance policy is sold or surrendered for a lump sum before the death of the insured,the amount received is taxable to the extent it exceeds the premiums paid.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q99: Miranda is not a key employee of
Q100: Which of the following items will result
Q101: Premiums paid by an employer for employee
Q102: John,an employee of a manufacturing company,suffered a
Q103: For a taxpayer who is not insolvent
Q104: An electronics store sold a home theater
Q105: Mae Li is beneficiary of a $70,000
Q106: Katie,a self-employed CPA,purchased an accident and disability
Q107: Amy withdrew $3,000 from her qualified tuition
Q108: Benefits covered by Section 132 which may