团体寿险与年金第 695 / 716 题
Once an annuitant has lived long enough to recover the entire cost basis through the exclusion ratio, subsequent payments are:
a.Taxed as a long-term capital gain
b.Entirely tax-free as recovered basis
c.Refunded to the annuitant as overpaid
d.Fully taxable as ordinary income
解析
After the basis is fully recovered, there is nothing left to exclude, so all further payments are fully taxable as ordinary income. The payments are not tax-free, capital gains, or refunded.
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审核人 John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — 核实)