Copyright © 2019 TRC Financial. All rights reserved.

TRC Financial Insurance Services and affiliates are presently licensed to sell insurance and annuity products, as well as other securities products in the following states: Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Iowa, Kansas, Kentucky, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nevada, New Jersey, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Washington, West Virginia and Wisconsin. Residents of other states should consult with a local registered representative for insurance services and securities products. Proper state registration is mandatory prior to conducting business in that state. This is not an offer to sell securities, which may be done only after proper delivery of a prospectus and a client suitability review. CA License - #0E14614 \ CA License #0B40789 \ CA License #0B52893 - The principle place of business and the state of domicile for TRC Financial is: 1 Post, Suite 150, Irvine, CA 92618. Securities offered through Registered Representatives of M Holdings Securities, Inc., a Registered Broker/Dealer Member FINRA / SIPC. Check the background of this Firm and/or investment professional on FINRA's BrokerCheck. TRC Financial is independently owned and operated and is a Member Firm of M Financial Group. Please go to www.mfin.com and click on “Disclosure Statement” at the bottom of the home page for further details regarding this relationship.

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Life Settlement Taxation Clarified by the New Tax Law

January 24, 2018

 The new tax law, Tax Cuts and Jobs Act of 2017, contains a provision that makes the tax treatment for the seller of a life insurance policy more favorable. The new tax law retroactively overturns a revenue ruling published in 2009 that reduced policy basis by “cumulative cost of insurance charges” assessed against the policy.

 

The new tax law clarifies the tax treatment to a seller of a life insurance policy as follows:

 

  1. Amounts received up to the tax basis are received free of income tax,
     

  2. Amounts received in excess of the tax basis up to the amount of the cash surrender value are taxed at ordinary income rates, and
     

  3. Amounts received in excess of the cash value get favorable capital gains treatment.

 

Please contact us to learn more about how to value your life insurance policy beyond the policy cash surrender value.

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