26 U.S. Code § 803 - Life insurance gross income
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(a) In general
For purposes of this part, the term “life insurance gross income” means the sum of the following amounts:
(2) Decreases in certain reserves
(b) Special rules for premiums
(1) Certain items included
For purposes of subsection (a)(1)(A), the term “gross amount of premiums and other consideration” includes—
(E) consideration in respect of assuming liabilities under contracts not issued by the taxpayer, and
(F) the amount of policyholder dividends reimbursable to the taxpayer by a reinsurer in respect of reinsured policies,
on insurance and annuity contracts.
(2) Policyholder dividends excluded from return premiums
For purposes of subsection (a)(1)(B)—
(A) In general
Except as provided in subparagraph (B), the term “return premiums” does not include any policyholder dividends.
Source(Added Pub. L. 98–369, div. A, title II, § 211(a),July 18, 1984, 98 Stat. 721.)
A prior section 803, acts Aug. 16, 1954, ch. 736, 68A Stat. 256; Mar. 13, 1956, ch. 83, § 2,70 Stat. 39, related to income and deductions in the case of life insurance companies, prior to the general revision of this part by Pub. L. 86–69, § 2(a),June 25, 1959, 73 Stat. 112.
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