Multiple Choice
The annual increase in the cash surrender value of a life insurance policy:
A) Is taxed according to the original issue discount rules.
B) Is not included in gross income because the policy must be surrendered to receive the cash surrender value.
C) Reduces the deduction for life insurance expense.
D) Is exempt because it is life insurance proceeds.
E) None of these.
Correct Answer:
Verified
Correct Answer:
Verified
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