5500 Question 6a

[CJS07]

Is a limited parternership considered an eligible asset?

Is a life insurance policy (with cash value) considered an eligible asset?

Couldn't find anything definitive in the instructions.

Thanks!

[TPAMan]

Seems to me the requirement for eligible assets to have a 'readily determinable fair market value' is pretty specific. I don't think your LI policy or the LP typically will meet this standard.

[austin3515]

I would say the LP is out (unless it's traded on an exchange, which I think some are?).

I think personally, I would conclude that the life insurance policy qualifies. The FMV should be the Cash Surrender Value. Doesn't seem to be too much of a stretch to me...