- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
INSURANCE POLICY CASH SURRENDER
I surrendered a whole life policy. the 1099-R shows a Gross Distribution of $80,838.35, a taxable amount of 4,308.07 and an insurance premium of 76,530.28. Turbo tax shows the Gross Distribution as the amount to be taxed. Shouldn't I only be paying taxes on the 4,308.07.
‎February 1, 2025
12:41 PM