Odomirok.26-Taxes - Revision history

Graham at 22:40, 27 January 2026

2026-01-27T22:40:12Z

Graham at 22:37, 27 January 2026

2026-01-27T22:37:53Z

Graham at 22:37, 27 January 2026

2026-01-27T22:37:22Z

Graham at 22:36, 27 January 2026

2026-01-27T22:36:17Z

Graham at 19:09, 26 November 2025

2025-11-26T19:09:05Z

Graham at 23:53, 8 January 2025

2025-01-08T23:53:29Z

Graham at 23:53, 8 January 2025

2025-01-08T23:53:20Z

Graham: /* Calculating the Tax-Basis Income (Version 1) */

2024-12-29T22:21:20Z

‎Calculating the Tax-Basis Income (Version 1)

Graham: /* Tax-Basis Income */

2024-12-29T21:25:45Z

‎Tax-Basis Income

Graham: /* BattleTable */

2024-12-10T20:01:17Z

‎BattleTable

@@ Line 194: / Line 194: @@
 '''Alice's solution to''' <span style="color: red;">'''(2018.Spring #14)'''</span>:
-: [https://www.battleacts6us.ca/pdf/Odomirok.Ch26_(18S.14).pdf <span style="color: white; font-size: 12px; background-color: green; border: solid; border-width: 2px; border-radius: 10px; border-color: green; padding: 1px 3px 1px 3px; margin: 0px;">'''''Solution to 2018.Spring #14'''''</span>] &nbsp;&larr; ''see [https://www.battleacts6us.ca/vanillaforum6us/discussion/454/2nd-year-inv-inc this forum post] for an alternate way to compute investment income
+: [https://www.battleacts6us.ca/pdf/Odomirok.Ch26_(18S.14).pdf <span style="color: white; font-size: 12px; background-color: green; border: solid; border-width: 2px; border-radius: 10px; border-color: green; padding: 1px 3px 1px 3px; margin: 0px;">'''''Solution to 2018.Spring #14'''''</span>] &nbsp;&larr; ''see [https://battleacts.discourse.group/t/2nd-year-inv-inc/2835 this forum post] for an alternate way to compute investment income
 And here's a practice problem:

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 : <span style="color: red;">'''<sup>3</sup>'''</span> This problem is partly outdated because the corporate tax rate changed from 35% to 21%, but you can still do parts (ii), (iii), and (iv) based on the new version of the source text. Part (i) on the 'dividends received' deduction is definitely outdated as this is no longer discussed on the source text.
 : <span style="color: red;">'''<sup>4</sup>'''</span> Click for an ''[https://www.battleacts6us.ca/Excel/2013-Fall-Q18-(updated)_v01.xlsx updated solution to 2013-Fall-Q18]''
-: <span style="color: red;">'''<sup>5</sup>'''</span> Click for ''[https://www.battleacts6us.ca/vanillaforum6us/discussion/581/2018s-14#latest comments regarding discounting in this problem]''
+: <span style="color: red;">'''<sup>5</sup>'''</span> Click for ''[https://battleacts.discourse.group/t/2018s-14/2962 comments regarding discounting in this problem]''
 [https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=Odomirok&suffix=26-Taxes&section=all&subSection=all&examRep=all&examYear=all&examTerm=all&quizNum=all<span style="font-size: 20px; background-color: lightgreen; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 10px;">'''Full BattleQuiz]'''</span>

@@ Line 148: / Line 148: @@
 ===Calculating the Tax-Basis Income (Version 1)===
-Note that the formula provided below for TBI (Tax-Basis Income) is based on past exam problems and does not include quantities that were not provided in the exam problems. In particular, the quantity TBI may include terms such as U/W expense and policyholder dividends but these are not generally provided in typical exam problems on calculating TBI. There is a ''[https://www.battleacts6us.ca/vanillaforum6us/discussion/52/2015-spring-17#latest brief forum post]'' mentioning this.
+Note that the formula provided below for TBI (Tax-Basis Income) is based on past exam problems and does not include quantities that were not provided in the exam problems. In particular, the quantity TBI may include terms such as U/W expense and policyholder dividends but these are not generally provided in typical exam problems on calculating TBI. There is a ''[https://battleacts.discourse.group/t/2015-spring-17/2479 brief forum post]'' mentioning this.
 Let

@@ Line 111: / Line 111: @@
 [https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=Odomirok&suffix=26-Taxes&section=all&subSection=all&examRep=all&examYear=all&examTerm=all&quizNum=all<span style="font-size: 20px; background-color: lightgreen; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 10px;">'''Full BattleQuiz]'''</span>
-&nbsp;&nbsp;[https://www.battleacts6us.ca/vanillaforum6us/categories/odomirok-26-taxes<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
+&nbsp;&nbsp;[https://battleacts.discourse.group/c/candidates-6u/odomirok-26-taxes/186<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
 ==In Plain English!==
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 [https://www.battleacts6us.ca/FC.php?selectString=**&filter=both&sortOrder=natural&colorFlag=allFlag&colorStatus=allStatus&priority=importance-high&subsetFlag=miniQuiz&prefix=Odomirok&suffix=26-Taxes&section=all&subSection=all&examRep=all&examYear=all&examTerm=all&quizNum=all<span style="font-size: 20px; background-color: lightgreen; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 10px;">'''Full BattleQuiz]'''</span> <span style="color: red;">'''You must be <u>logged in</u> or this will not work.'''</span>
-&nbsp;&nbsp;[https://www.battleacts6us.ca/vanillaforum6us/categories/odomirok-26-taxes<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
+&nbsp;&nbsp;[https://battleacts.discourse.group/c/candidates-6u/odomirok-26-taxes/186<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
 ==POP QUIZ ANSWERS==

@@ Line 3: / Line 3: @@
 '''Author''': ''Kathleen C. Odomirok'', FCAS, MAAA, ''Liam M. McFarlane'', FCIA, FCAS, ''Gareth L. Kennedy'', ACAS, MAAA, ''Justin J. Brenden'', FCAS, MAAA, ''EY''
-[https://www.battleacts6us.ca/vanillaforum6us/categories/odomirok-26-taxes<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
+[https://battleacts.discourse.group/c/candidates-6u/odomirok-26-taxes/186<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
 <span style="display: inline-block; background-color: blue; color: white; font-weight: bold; text-align: center; line-height: 50px; width: 50px; height: 50px; border-radius: 50%;">VIDEO</span> &rarr; [https://battleacts6us.ca/video/160_Taxation_General_(v01).mp4 <span style="color: black; font-size: 12px; background-color: aqua; border: solid; border-width: 2px; border-radius: 10px; border-color: aqua; padding: 5px 10px 5px 10px; margin-top: 100px;">'''(8:15) &rarr; Taxation - General Overview'''</span>]

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 <span style="display: inline-block; background-color: blue; color: white; font-weight: bold; text-align: center; line-height: 50px; width: 50px; height: 50px; border-radius: 50%;">VIDEO</span> &rarr; [https://battleacts6us.ca/video/160_Taxation_General_(v01).mp4 <span style="color: black; font-size: 12px; background-color: aqua; border: solid; border-width: 2px; border-radius: 10px; border-color: aqua; padding: 5px 10px 5px 10px; margin-top: 100px;">'''(8:15) &rarr; Taxation - General Overview'''</span>]
 &nbsp;&nbsp; ([[Videos |Click here for all currently available videos.]])
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← Older revision		Revision as of 23:53, 8 January 2025
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	[https://www.battleacts6us.ca/vanillaforum6us/categories/odomirok-26-taxes<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]		[https://www.battleacts6us.ca/vanillaforum6us/categories/odomirok-26-taxes<span style="font-size: 12px; background-color: lightgrey; border: solid; border-width: 1px; border-radius: 10px; padding: 2px 10px 2px 10px; margin: 0px;">'''Forum'''</span>]
		+
		+	<span style="display: inline-block; background-color: blue; color: white; font-weight: bold; text-align: center; line-height: 50px; width: 50px; height: 50px; border-radius: 50%;">VIDEO</span> → [https://battleacts6us.ca/video/160_Taxation_General_(v01).mp4 <span style="color: black; font-size: 12px; background-color: aqua; border: solid; border-width: 2px; border-radius: 10px; border-color: aqua; padding: 5px 10px 5px 10px; margin-top: 100px;">'''(8:15) → Taxation - General Overview'''</span>]
		+	([[Videos \|Click here for all currently available videos.]])
		+

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 | &nbsp;&nbsp; '''TBIL''' &nbsp;&nbsp; <span style="color: blue;">'''='''</span> &nbsp;&nbsp; PL &nbsp;&nbsp; + &nbsp;&nbsp; chg(L<sup>D</sup>) &nbsp;&nbsp; <span style="color: blue;">'''='''</span>  &nbsp;&nbsp; IL &nbsp;&nbsp; <span style="color: red;">&ndash;</span> &nbsp;&nbsp; chg(D)
 |}
 '''Side Note''':

@@ Line 135: / Line 135: @@
 |}
-:* in SAP, acquisition costs are <u>not deferred</u> so the insurer would incur a loss
+:* in SAP, acquisition costs are <u>not deferred</u> so the insurer would incur a loss (because these costs are expensed immediately)
 :* the insurer would then be entitled to a future tax <u>refund</u> on this loss
 :* <span style="color: red;">'''but the IRS wanted to simplify the process:'''</span> instead of a refund, the IRS <u>reduces</u> UEP liability by 20% for all insurers