### Question
How is the term insurance income defined?


### Answer
The term **insurance income** is defined in *26 U.S.C. § 953* as the following:

> any income which—


(A) is attributable to the issuing (or reinsuring) of an insurance or annuity contract, and


(B) would (subject to the modifications provided by subsection (b)) be taxed under subchapter L of this chapter if such income were the income of a domestic insurance company

#### Citation:
  - *26 U.S.C. § 953*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter N-Tax Based on Income From Sources Within or Without the United States > PART III-INCOME FROM SOURCES WITHOUT THE UNITED STATES > Subpart F-Controlled Foreign Corporations**

