Chapter 2 - Gross Income and Exclusions - eduworklab
Life Insurance Proceeds – P. 27-30 in Jeff’s outline. Proceeds from life insurance policies are taxable; however, proceeds paid under an ins K, by reason of death of the insured are excluded from gross income. No deduction shall be allowed for premiums on any life ins policy, or annuity K if taxpayer is directly or indirectly a B under the ... ................
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