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Tammy F.
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Category: Tax
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How much tax would you have to pay on 22,000 from a ...

Resolved Question:

How much tax would you have to pay on 22,000 from a refund check from a Insurance company (cash value check)
Submitted: 10 years ago.
Category: Tax
Expert:  Tammy F. replied 10 years ago.

As long as you have not taken any deductionns for the premiums that you paid through the life of the policy, the amount is not taxable. Most people do not take deductions on this type of premium.

If the amount you receive is MORE than you paid in, that portion (that exceeds what you paid) may be taxable. But this is rare.

Let me know if you need more help.


Tammy F. and other Tax Specialists are ready to help you
Customer: replied 10 years ago.
Thank you, XXXXX XXXXX been a great help
Expert:  Tammy F. replied 10 years ago.

You're very welcome!. If my answer was helpful to you, don't forget to accept it so that I can get credit for it.


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