topic I donated a life insurance policy to a college, and they surrendered the policy. Is any part of the amount they received deductible by me? in Deductions & credits

I donated a life insurance policy to a college, and they surrendered the policy. Is any part of the amount they received deductible by me?

1910juliet — Thu, 06 Jun 2019 15:00:01 GMT

Possibly. You must have written confirmation from the col...

Rainman12 — Thu, 06 Jun 2019 15:00:03 GMT

Possibly. You must have written confirmation from the college to validate the deduction.

You should be able to deduct the surrender value of the p...

Anita01 — Thu, 06 Jun 2019 15:00:04 GMT

You should be able to deduct the surrender value of the policy as a charitable donation to the college. They must give you a receipt showing the date of the donation and the value.