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Proper tax reporting of life insurance death benefit
ETA Consulting LLC reacted to rcline46 for a topic
Was the pollicy the ONLY asset in the plan? Strange if it were. If not, then the distribution (and 1099-R) of the cash value - well the cash value is part of the account balance. The amount at risk (20,000) is tax free ONLY IF the ps 58 costs were paid. If PS 58 not paid, then that is taxable also.1 point
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