Life insurance policy exchanges.: An article from: The Tax Adviser
Book Details
Author(s)Corinne L. Brusso
PublisherAmerican Institute of CPA's
ISBN / ASINB0008YVMYG
ISBN-13978B0008YVMY8
AvailabilityAvailable for download now
Sales Rank14,116,092
MarketplaceUnited States 🇺🇸
Description
This digital document is an article from The Tax Adviser, published by American Institute of CPA's on January 1, 1992. The length of the article is 801 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
From the supplier: Taxation of life insurance policy exchanges is discussed. Sec. 1035(a)(1) holds that no gain or loss is incurred when one life insurance contract is exchanged for another. To insure exemption, rights should be assigned to the new carrier by the policyholder. However, changing the insured on the same policy, as in corporate-owned life insurance (COLI), is considered a taxable exchange under Sec. 1001.
Citation Details
Title: Life insurance policy exchanges.
Author: Corinne L. Brusso
Publication:The Tax Adviser (Magazine/Journal)
Date: January 1, 1992
Publisher: American Institute of CPA's
Volume: 23 Issue: n1 Page: 26(2)
Distributed by Thomson Gale
From the supplier: Taxation of life insurance policy exchanges is discussed. Sec. 1035(a)(1) holds that no gain or loss is incurred when one life insurance contract is exchanged for another. To insure exemption, rights should be assigned to the new carrier by the policyholder. However, changing the insured on the same policy, as in corporate-owned life insurance (COLI), is considered a taxable exchange under Sec. 1001.
Citation Details
Title: Life insurance policy exchanges.
Author: Corinne L. Brusso
Publication:The Tax Adviser (Magazine/Journal)
Date: January 1, 1992
Publisher: American Institute of CPA's
Volume: 23 Issue: n1 Page: 26(2)
Distributed by Thomson Gale
