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Financial Planning / Tax Strategies


Subject:  Re: Cash value from life insurance taxable? Date:  11/8/2013  9:32 AM
Author:  TMFPMarti Number:  119459 of 127747

The question; when the cash is distributed, is this considered ordinary income?

The taxable portion is ordinary income reported on line 16 of the 1040. (You'll get a 1099-R.) The issuer can tell you how much will be taxable.

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