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New Member
posted Jun 1, 2019 2:43:49 AM

Took an $8,600.00 loan from Life Insurance policy to pay for schooling. What do I do for tax purposes?

Where would I get the correct tax forms for filing this?

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1 Best answer
New Member
Jun 1, 2019 2:43:50 AM

A loan from a life insurance policy is not income. Borrowed funds are not taxable income. You have nothing to report.

2 Replies
New Member
Jun 1, 2019 2:43:50 AM

A loan from a life insurance policy is not income. Borrowed funds are not taxable income. You have nothing to report.

New Member
Jun 1, 2019 2:43:52 AM

Great! thanks for the help!