Business
Business, 28.07.2020 20:01, lailabirdiemae

Sharon transfers to Russ a life insurance policy with a cash surrender value of $30,000 and a face value of $100,000 in exchange for real estate. Russ continues to pay the premiums on the policy until Sharon dies 7 years later. At that time, Russ has paid $14,000 in premiums, and he collects the $100,000 face value. How much of the proceeds, if any, are taxable to Russ?

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Sharon transfers to Russ a life insurance policy with a cash surrender value of $30,000 and a face v...

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