...the same effect, see H. Kept. 99-426, at 1065-1066, 1986-3 CB (Vol. 2) 1065-1066; Staff of J. Comm. on Taxation, Explanation of Technical Corrections...Reform Act of 1984 and Other Recent Tax Legislation (JCS-11-87), at 222-223 (J. Comm. Print 1987) (hereinafter sometimes referred to as the staff blue...

...estimated revenue effect of the technical corrections title. 1 This document may be cited as follows: Joint Committee on Taxation, Explanation of Technical...Reform Act of 1984 and Other Recent Tax Legislation (JCS-11-87), May 13, 1987. 2 For an explanation of the other provisions of the Tax Reform Act of 1986...

...as being paid first out of income in the contract, rather than as a return of the policyholder ' s investment in the contract . . . ." Joint Committee...withdrawal of cash values free of tax during the first 15 years after the policy is purchased. For example, consider an individual aged 45 who purchases a...

...Packwood) ; 132 Cong. Rec. E3389, E3391 (daily ed. Oct. 2, 1986) (statement of Mr. Rostenkowski) ; Explanation of Technical Corrections to the Tax Reform Act of 1984 and Other Recent Tax Legislation (Joint Committee on Taxation May 13, 1987) at 45; 133 Cong. Rec. S7696-S7697 (daily ed. June 5, 1987)...

...circumstances "a portion of the cash distributed to the policyholder . . . will be treated as being pa id first out of income in the contract, rather than as...withdrawal of cash values free of tax during the first 15 years after the policy is purchased. For example, consider an individual aged 45 who purchases a...

...treated as being paid first out of income in the contract, rather than as a return of the policyholder 's investment in the contract . . . ." Joint Committee...insurance policies in particular and generally prevents a pol icy owner from making a substantial partial withdrawal of cash values free of tax during the first...

...the same effect, see H. Kept. 99-426, at 1065-1066, 1986-3 CB (Vol. 2) 1065-1066; Staff of J. Comm. on Taxation, Explanation of Technical Corrections...Reform Act of 1984 and Other Recent Tax Legislation (JCS-11-87), at 222-223 (J. Comm. Print 1987) (hereinafter sometimes referred to as the staff blue...

...Cong. 2d Sess (hereinafter TRA 86 S Rep.). 1002. Staff of the Joint Committee on Taxation. JCS- II -87. Explanation of Technical Corrections to the Tax Reform Act of 1984 and Other Recent Tax Legislation (Title XVIII of HR 3838, 99th Congress; Public Law 99514) (hereinafter Tech. Corrections Blue Book)....

...when a "transfer of property in trust" occurs, also does not apply to this case. [See Staff of the Joint Committee on Taxation, Explanation of Technical...Corrections to the Tax Reform Act of 1984 and Other Recent Legislation, 99th Cong., 1st Sess. 119 (Comm. Print 1987), which states, "These rules [section 1041(e)]...

...be treated as meeting the requirements of prior-law section 101(f), which was extended through 1984. EXPLANATION OF TECHNICAL CORRECTIONS TO THE TAX REFORM ACT OF 1984 AND OTHER RECENT LEGISLATION 110 29. Treatment of certain contracts issued before October 1, 1984 (sec. 1825(e) of the...