Feb. 28, 2022, 11:27 PM
The property of a deceased actual property investor who had entered right into a split-dollar life insurance coverage association received its tax dispute with the IRS, after the U.S Tax Court docket discovered Friday that solely the property pursuits that the property had on the time of the taxpayer’s loss of life had been taxable.
Marion Levine was an actual property investor who owned and manged cell dwelling parks and renaissance gala’s. In 1988, she established a revocable belief naming her youngsters and grandchildren as beneficiaries, and later established a split-dollar life insurance coverage association for them, taking out life insurance coverage insurance policies on her youngsters; $6.5 million …