Legal Question in Tax Law in Massachusetts
insurance policies
i am about to surrender a life insurance policy.
do i have federal income tax taken out when i surrender or not?
Asked on 11/06/08, 9:02 am
1 Answer from Attorneys
Re: insurance policies
When you surrender the policy they will issue you a 1099, a Portion of the Money you get will be taxable, some as dividends and some maybe as capital gain.
Answered on 11/06/08, 12:22 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
