If the taxpayer would
have had an election to pay it with after tax dollars Box1 would have also been zero and information in other box would have had it. I had one he called when the election was in front of him in 1987 and I told him to take it after tax. As luck or bad luck would have it from age 57 to age 65 he received in excess of $200,000 a year. No, I do not want to argue the merits of normally taking it as pretax. The average is you will never use the policy, but it you do-do you want it taxable????????? So even if I was "maybe" giving the wrong advice-it did end up to be the best and he reminds with thanks every time I see him. He has a golf handicap of about 12.
have had an election to pay it with after tax dollars Box1 would have also been zero and information in other box would have had it. I had one he called when the election was in front of him in 1987 and I told him to take it after tax. As luck or bad luck would have it from age 57 to age 65 he received in excess of $200,000 a year. No, I do not want to argue the merits of normally taking it as pretax. The average is you will never use the policy, but it you do-do you want it taxable????????? So even if I was "maybe" giving the wrong advice-it did end up to be the best and he reminds with thanks every time I see him. He has a golf handicap of about 12.
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