Which of the following life insurance proceeds is not included in the gross estate of the deceased? A. Insurance proceeds with SSS. B. Insurance proceeds where the beneficiary is a third person revocably appointed. C. Insurance proceeds under a group insurance taken out by the employee for himself as beneficiary. D. Insurance proceeds covering the life of the insured decedent where the estate of the deceased, his executor or administrator is the beneficiary whether or not the insured retained the power of revocation.

Which of the following life insurance proceeds is not included in the gross estate of the deceased? A. Insurance proceeds with SSS. B. Insurance proceeds where the beneficiary is a third person revocably appointed. C. Insurance proceeds under a group insurance taken out by the employee for himself as beneficiary. D. Insurance proceeds covering the life of the insured decedent where the estate of the deceased, his executor or administrator is the beneficiary whether or not the insured retained the power of revocation.

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter2: Gross Income And Exclusions

Section: Chapter Questions

Problem 15MCQ

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