§803. Life insurance gross income — Inbound Citations
26 U.S.C. § 803
Cited by 6 provisions in release 119-102.
Citations to §803(a)(1)
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(A) section 803(a)(1) (relating to gross amount of premiums and other considerations),
Citations to §803(a)(1)(B)
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(I) any reduction under section 803(a)(1)(B) in the gross amount of premiums and other consideration on insurance and annuity contracts for premiums and other consideration arising out of indemnity insurance, and
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(3) Such term shall also include any premium or other consideration paid or accrued by the taxpayer to a foreign person which is a related party of the taxpayer for any reinsurance payments which are taken into account under sections 803(a)(1)(B) or 832(b)(4)(A).
Citations to §803(a)(2)
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(a) If for any taxable year—(1) the opening balance for the items described in subsection (c), exceeds(A) the closing balance for such items, reduced by(B) the amount of the policyholders’ share of tax-exempt interest and the amount of the policyholder’s share of the increase for the taxable year in policy cash values (within the meaning of section 805(a)(4)(F)) of life insurance policies and annuity and endowment contracts to which section 264(f) applies,such excess shall be included in gross income under section 803(a)(2).
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(B) section 803(a)(2) (relating to net decrease in reserves),
Citations to §803(b)
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(1) The term “net premiums” means, with respect to any category of specified insurance contracts set forth in subsection (c)(1), the excess (if any) of—(A) the gross amount of premiums and other consideration on such contracts, over(B) return premiums on such contracts and premiums and other consideration incurred for reinsurance of such contracts.The rules of section 803(b) shall apply for purposes of the preceding sentence.