Question
A client has a cash value account worth $50,000, $15,000 of which is attributable to growth. They currently have a loan outstanding equal to 20%
A client has a cash value account worth $50,000, $15,000 of which is attributable to growth. They currently have a loan outstanding equal to 20% of the cash value and just now received $5,000 in dividend payments. They are in the 22% marginal tax bracket.
What is their tax liability should they surrender the policy?
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To calculate the tax liability if the client surrenders the policy we need to consider the tax treat...
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South-Western Federal Taxation 2018 Comprehensive
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
41st Edition
1337386006, 978-1337386005
