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Financial Planning / Tax Strategies


Subject:  Surrendered Life Insurance Policy Date:  3/24/2000  12:16 AM
Author:  fetchit Number:  32479 of 130714

I recently surrendered a life insurance policy. Since the cash I recieved exceeds the premiums paid on the account; I understand that I will have to report the difference as "ordinary" income. Where exactly (line # on Form 1040) would I report this amount? Will I have to fill out any other forms, schedules, ect.?

Thanks for you help.
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