Regarding tax implications of key employee life insurance

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Reference no: EM131052515

Which of the following statements regarding the tax implications of key employee life insurance is correct?

Select one: a. The sale of key employee insurance to the insured employee is exempt from the transfer for value rule. b. The receipt of insurance proceeds by the corporation requires the corporation to pay the alternative minimum tax c. The receipt of insurance proceeds in excess of $250,000 requires the corporation to pay the accumulated earnings tax d. Policy proceeds are subject to federal income tax

Reference no: EM131052515

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