Skip to main content
April 8, 2024
Question

Insurance policy is canceled. The Gross Cash Value equal the Net Cash Value. The GCV - Cost Basis = Gain. Do I report the gain? If so, how is it reported?

  • April 8, 2024
  • 1 reply
  • 0 views
No text available

1 reply

April 8, 2024

didn't you get a 1099-R? That's what would be used  but the codes may present a problem with that tax form