United States Ninth Circuit

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Schwab v. Commissioner of Internal Revenue, 11-71957

Tax court's partial grant of plaintiff-taxpayers petition challenging defendant's determination of a deficiency in their federal income tax is affirmed, where: 1) the amount actually distributed when a couple received ownership of two life insurance policies after their employer wound down their employees' benefit trust was the fair market value of what was actually distributed; and 2) surrender charges associated with a variable universal life insurance policy may permissibly be considered as part of the general inquiry into a policy’s fair market value.

Appellate Information

  • Decided 04/24/2013
  • Published 04/24/2013




  • United States Ninth Circuit