Good morning. This insurance policy was purchased several years ago for the purpose of nursing home care. In 2019, I received a letter from them changing the coverage and the yearly amount. Or I could cash it in. I have a letter from them saying I had paid into the company the total of $16,585.00. When I cashed it in I received a check in the amount of $6,171.02. This amount in on tax form 1000-LTC. What do I have to do with it? I cannot see paying taxes on the returned amount when there was a significant loss. Please help me. Thank you.
