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All of the following statements about the income tax treatment

Question : All of the following statements about the income tax treatment : 2014

All of the following statements about the income tax treatment of individually-purchased life insurance are true EXCEPT

life insurance proceeds paid to a beneficiary in a lump-sum are received tax-free.

premiums paid for individual life insurance are a tax deductible expense.

the annual increase in cash value is not taxable while the policy remains in force.

policy owner dividends are received tax-free.

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Taxation 1 Year Ago 198 Views
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