AICPA读书笔记REG之Individual Taxation( 二）

kevin

B. Exclusions from Gross Income (not reported)
1. Payments received for support of minor children

注意: a.与孩子应有抚养关系存在b.抚养费金额应明确，否则可被视为alimony (赡养费) c.优先支付抚养

2. Property settlement (division of capital) received in a divorce

3. Annuities and pensions

a. Annuities and pensions are excluded to the extent they represent a return of capital.

注释：自己缴纳的部分是不用纳税的。

EXAMPLE:

Mr. Jones purchased an annuity contract for $3,600 that will pay him $1,500 per year beginning in 2012. His expected return under the contract is $10,800. Mr. Jones’ exclusion ratio is $3,600 ÷ $10,800 = 1/3. For 2012, Mr. Jones will exclude $1,500 × 1/3 = $500; and will include the remaining $1,000 in gross income.

b. If the taxpayer dies before total cost is recovered, unrecovered cost is allowed as a miscellaneous itemized deduction on the taxpayer’s final tax return.

4. Life insurance proceeds

a. General Rule: Excluded if paid because of death.

注释：由于死亡而产生的收益不需要纳税。

b. If proceeds are received in installments, amounts received in excess of pro rata part of face amount are taxable as interest.

注释：同annuities and pensions，自己缴纳的部分不需要纳税。

c. Accelerated death benefits received under a life insurance policy by a terminally or chronically ill individual are generally excluded from gross income

d. All interest is taxable if proceeds are left with insurance company under agreement to pay only interest.

e. If insurance proceeds are paid for reasons other than death, or if the policy was obtained by the beneficiary in exchange for valuable consideration from a person other than the insurance company, all proceeds in excess of cost are taxable.

f. Company-owned life insurance.

In the case of an employer-owned life insurance contract, the amount of insurance proceeds that can be excluded from gross income by the employer (or related person) is generally limited to the sum of the premiums and other amounts paid by the policyholder for the contract. However, the full amount of proceeds paid at death can be excluded if specified notice and consent requirements as well as additional requirements are met.

注释：在雇主是人身保险合同的所有人情况下，雇主可以在gross income中扣除的保险赔偿金上限通常是保险费+保单持有人支付的其他费用。但是，在满足条件的情况下，因死亡而获得的赔偿金可以全部扣除。

mcjm26

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vivianm5168

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eveqi

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emilychung0330

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