vertical privity. 1  The legal relationship between links in a productâs distribution chain. 2  The privity between a person who signs a contract containing a restrictive clause and the person acquiring the property that is so restricted.
The taxation of life insurance proceeds or endowment policy proceeds payable during the insured`s lifetime is governed by Code 72, the same section that governs the taxation of the payments received under annuity contracts.here the proceeds of an endowment or surrendered policy are paid during life in a lump sum, any excess of such proceeds over the cost of the policy is taxable income [I.R.C. 72(e); Reg. 1.72-11(d)]. The gain is considered ordinary income and not capital gain.
If the rental income is taxed at marginal tax rate, itâs a huge... show more I have few rental properties which are considered as long-term investments because its meant for my kids college expense. I am wondering if the rental Income is taxed at my marginal tax rate (at 35%) or at long-term investment income tax rate of 15%. If the rental income is taxed at marginal tax rate, itâs a huge... show more I have few rental properties which are considered as long-term investments because its meant for my kids college expense.