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Joan owns a whole life insurance policy that has a face value of $500,000, a cash surrender value (CSV) of $35,000 and an Adjusted Cost

Joan owns a whole life insurance policy that has a face value of $500,000, a cash surrender value (CSV) of $35,000 and an Adjusted Cost Basis (ACB) of $1,000. In August, Joan received a $1,500 dividen...

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