I had the same situation. Taxable amount not determinable; premiums paid for years and years on a post tax basis (payments did not reduce my taxable income). Distribution codes 7 and D. On top of that, this contract was transferred to my wife from her mom and we got tired of making quarterly premium payments for a small life insurance amount. Whole life policy--they stink! I'd like to say the taxable amount is the proceeds less the total premiums paid against the policy; not dependent on whether the premium was paid by my mother in law or by us. Anyone know any different?
