The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies


Subject:  Re: Cash value from life insurance taxable? Date:  11/8/2013  9:32 AM
Author:  TMFPMarti Number:  119459 of 124831

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.

Rule Your Retirement Home Fool
Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us