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Ron and Dena establish an irrevocable life insurance trust and transfer $2,500,000 into it. The trust earns $125,000 of income annually. As trustees, they use
Ron and Dena establish an irrevocable life insurance trust and transfer $2,500,000 into it. The trust earns $125,000 of income annually. As trustees, they use $100,000 of the income to make premium payments on the life insurance, which insures both of their lives. How much is taxable to Ron and Dena (if any)
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