Insurance policy is canceled. The Gross Cash Value equal the Net Cash Value. The GCV - Cost Basis = Gain. Do I report the gain? If so, how is it reported?

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Insurance policy is canceled. The Gross Cash Value equal the Net Cash Value. The GCV - Cost Basis = Gain. Do I report the gain? If so, how is it reported?

didn't you get a 1099-R? That's what would be used but the codes may present a problem with that tax form

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