税务处理第 710 / 716 题
Premiums paid for personal life insurance are:
a.Deductible once coverage exceeds $50,000
b.Deductible as a medical expense
c.Fully tax-deductible each year
d.Generally NOT tax-deductible
解析
Personal life insurance premiums are paid with after-tax dollars and are not deductible, which is part of why the death benefit is received tax-free. There is no coverage-amount or medical-expense exception for personal policies.
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同考点相关题目
- The main tax disadvantage of a Modified Endowment Contract (MEC) is that:
- The general rule that life insurance death proceeds are income-tax-free can be lost under the 'transfer-for-value' rule when the policy is:
- When death proceeds are left with the insurer and paid to the beneficiary in installments, the portion that is taxable is the:
- The cash value inside a permanent life insurance policy grows:
- Life insurance proceeds may be pulled into the insured's taxable estate if, at death, the insured held:
- Required minimum distributions (RMDs) generally force the owner of a traditional qualified plan to begin taking taxable distributions:
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审核人 John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — 核实)