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1910juliet
New Member

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?

 
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Anita01
New Member

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?

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.

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2 Replies
Rainman12
Level 10

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?

Possibly. You must have written confirmation from the college to validate the deduction.
Anita01
New Member

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?

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.

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