税务处理第 451 / 716 题
The 'transfer-for-value' rule can cause a normally income-tax-free death benefit to become partly taxable when:
a.An existing policy is sold or transferred to another party for valuable consideration
b.The insured names a spouse as beneficiary
c.The policy is simply kept and never transferred to anyone for money or other valuable consideration
d.Premiums are paid on an annual schedule
解析
Under the transfer-for-value rule, if an in-force policy is transferred to another party for valuable consideration, part of the death benefit (the amount exceeding the buyer's basis) can become taxable, unless an exception applies. Simply keeping a policy, paying annual premiums, or naming a spouse as beneficiary does not trigger the rule. The rule exists to prevent policies from being traded as tax-free investment vehicles, and producers must flag it whenever a policy changes hands for value.
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同考点相关题目
- When a life insurance death benefit is paid to a named beneficiary as a lump sum, how is that benefit generally treated for federal income tax purposes?
- In a nonqualified deferred annuity, how are withdrawals taxed during the accumulation phase under the standard tax rule?
- Life insurance proceeds may be pulled into the insured's taxable estate for federal estate tax purposes if, at death, the insured held:
- A life insurance policy becomes a modified endowment contract (MEC) when it:
- Once a policy is classified as a modified endowment contract (MEC), distributions taken during the insured's life, such as loans and withdrawals, are:
- A Section 1035 exchange allows a policyowner to:
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审核人 John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — 核实)