Thank you Lisa995 and TurboTaxJohn2 I guess my other question is then how do I generate a 1099-MISC statement ?Is that something generated via the TT program wh...

Would this be a similar process to what I need to do?<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/3224502?_ans=1&_pos=1&_src=sapi&_...

We are listed as Joint owners as we both have to sign the documentation regarding the cancelling of the policy.

The insured person on the policy is our Father.My brother and I are both owners of the whole life policy.We are cancelling the policy to cash it out.The insuran...

The policy is in both me and my brothers name and we are splitting the proceeds 50/50.But the insurance company indicated they would report the taxable portion ...