From: Jeffrey Epstein <jeevacation®gmail.com> To: Eileen Alexanderson Subject: Re: split $ memo issue Date: Mon, 22 Apr 2013 20:08:09 +0000 well done, now why are they a limited partner, On Mon, Apr 22, 2013 at 3:56 PM, Eileen Alexanderson < > wrote: In my files I have an annual letter that says "Leon must report or contribute the economic benefit of his SplitDollar life insurance plans as income for income tax purposes. This same amount represents the annual value of the gift for gift tax purposes". With it comes a "reportable income and annual gift on a policy by policy basis which Tom has used as he prepares the annual gift tax return for Leon. I checked with Ada also. Elyse is referring to the requirement to evaluate split dollar life insurance plans as to the extent of the economic benefit that is considered taxable ordinary income to the employee. The taxable ordinary income to the employee is the premium cost of one-year term insurance on the life of the employee minus that portion of the premium paid by the employee. If the employee pays that portion of the premium that is in excess of the economic benefit, the employee incurs no ordinary income tax liability. The premium cost of one-year term insurance at each age is listed in this PS 58 IRS table. Eileen Alexanderson Black Family Partners. ment 19 phone: email: This email and any files transmitted with it are confidential and intended solely for the person or entity to whom they are addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon this information by persons or entities other than the intended recipient is prohibited. If you have received this email in error please contact the sender and delete the material from any computer. Apollo Global Management, LLC The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein EFTA00874333 Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation®gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00874334