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I saw a Becker question the other day about taxing/deducting life insurance proceeds received on the death of an officer, but I cant seem to find the exact question now. The general idea in Becker tends to be that proceeds received are not taxable, and premiums paid are not deductible. However this question added a twist stating that proceeds received were immediately sent to the officer’s spouse. Does this change anything? Or are there any twists that could change things that we may see on the REG exam?
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