mainLet me illustrate... - Support: sr #106573, Solve for tax basis

 
 

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sr #106573: Solve for tax basis

Submitter:  Greg Chicares <chicares>
Submitted:  Sat 06 Dec 2008 05:33:39 PM UTC
   
 
Category:  Calculations Status:  Done
Priority:  5 - Normal Severity:  3 - Normal
Assigned to:  chicares Open/Closed:  Closed

Sat 06 Dec 2008 05:33:39 PM UTC, original submission:  

Solve to make surrender value equal tax basis in target year.
Suppose premium is split between er and ee, but ownership isn't:
the ee is the sole owner. At retirement, er payments naturally
cease, and the ee may surrender the contract, exactly recovering
the full basis with no taxable gain. The ee gets the advantage
of treating er payments as basis.

Greg Chicares <chicares>
Group administrator

 

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    Follow 3 latest changes.

    Date Changed by Updated Field Previous Value => Replaced by
    2017-08-09 chicares StatusReady For Test Done
        Open/ClosedOpen Closed
    2008-12-08 chicares StatusNone Ready For Test

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