We received a rather large distribution from USAA Subscriber's account. Is this amount taxable?

[HelenaC · Accepted solution]

Please see the answer from a previously posted question: https://ttlc.intuit.com/replies/6734180

[jondesertfox]

I received a rather large distribution payout of my USAA subscriber account in 2023.  Will I have to report that on my 2023 form 1040?

[PattiF]

The subscriber savings account is considered a return of premium, insurance premium, and not taxable. USAA subscriber savings account distributions are not taxable income for federal or state income tax purposes.  You will not have to report that on the 2023 Form 1040.