Foreign Life Insurance Proceeds and Where to Report

pooja555 · Sep 13, 2019 4:29:55 PM

<P>I had a policy overseas for about 12 years and the policy automatically expired and I got some proceeds from that. I am assuming that the proceeds are taxable. However, is this interest, dividend, etc. Where do I report this sort of income on my tax return? I cannot find a answer. </P>

I have a similar, but not exactly similar case:

1) I am a US citizen

2) I had a HDFC Life Policy which matured, for which I have tangible gains, after deducting the premiums that I have paid (converted to US $, per each year's conversion rate)

So my question is the following:

While reporting this through Turbo Tax, should this reported as Social Security / Retirement Income Distribution (1099-R) or through Dividends / Interests / Other Income (1099-INT/DIV)?

Thanks