Revenue Ruling 2020-05 modifies Rev. Rul. 2009-13 and Rev. Rul. 2009-14 to reflect  § 1016(a)(1)(B) of the Internal Revenue Code, which was added by section 13521 of the 2017 Tax Cuts and Jobs Act.  Under §1016(a)(1)(B), the adjusted basis of an insurance contract is not reduced by the cost of insurance.  Section 1016(a)(1)(B) reversed the position in Rev. Rul. 2009-13 and Rev. Rul. 2009-14 that the basis of an insurance contract is reduced by the cost of insurance.

Revenue Ruling 2020-05 will be in IRB:  2020-9, dated 2/24/2020.