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solomonsadie
New Member

What if I got cash surrender value back on a life insurance policy, Do I claim it on my taxes.

I didn't get a 1099, they just me a letter saying retain for my tax records
2 Replies
SweetieJean
Level 15

What if I got cash surrender value back on a life insurance policy, Do I claim it on my taxes.

Only the cash surrender value in excess of the premiums paid is taxable. If so, they should have sent you a 1099-R. Call them and check,.

sorcerer47
Returning Member

What if I got cash surrender value back on a life insurance policy, Do I claim it on my taxes.

Same situation but the 1099 had taxable income listed even though the payments far exceeded the payout Originally I jad not received a 1099 until I requested one and now acccording to TurboTax it is wrong.Prudential says it is correct butri know they are wrong.
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