Loss on Surrender
August 30, 2010 by Tax Blog
Filed under Questions & Answers
Today TaxMama hears from Karla in the TaxQuips Forum, with this question. “Is the loss on surrender of life insurance deductible on 1040?”
Dear Karla,
It’s not clear why you would have a loss when you surrender a life insurance policy. Of course, I don’t have much experience in this area.
Chapter 12 of IRS Publication 17 covers IRS rules about the <a
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