melmerfud
New Member

Do i have to claim money from a cancer policy that i have paid premiums for? I received a 1099 misc form showing 10000 do i have to claim that as income?

 
PaulaM
Expert Alumni

Get your taxes done using TurboTax

If you paid the premiums on the policy with after-tax dollars, the benefits are not taxable because they are considered a form of health/disability insurance. 

If you paid for the premiums via payroll deductions, the that means the premiums were paid with pre-tax dollars, and are reported as income. 

See below.

https://ttlc.intuit.com/questions/3015447-where-do-i-report-income-from-a-cancer-insurance-policy

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"