Over the years Rianna paid $65,000 in premiums on a life insurance policy with a face value of $100,000. Upon reaching 65, while still in good health, Rianna surrendered the policy and collected $95,000. In the year of collection, Rianna will report

A. $95,000 of taxable income.
B. $30,000 of taxable income.
C. $5,000 of tax loss.
D. no income.


Answer: B

Business

You might also like to view...

The Bass Model assumes that new product adopters are influenced by which two types of communications?

a. mass media and interpersonal communications b. blogs and wikis c. scholarly journals and reviews d. competitor reaction and commercials e. popular technology magazines and websites

Business

Assuming concurrent jurisdiction, which of the following is not an example of when federal preemption exists?

a. The federal government establishes a comprehensive scheme to regulate the area. b. Congress expressly preempts the area through legislation. c. The federal government regulates the area before the state. d. State law is inconsistent with federal law.

Business

To be effective, what three qualities does a selling proposition in an advertising campaign need to have?

What will be an ideal response?

Business

Refer Patient is a ________ for Make Appointment

A) precondition B) postcondition C) trigger D) none of the above

Business