Cash in whole life policy employer paid

[Colmatt]

Considering cashing in whole life insurance policy for $30,000.  Company paid for $60 a month for 45 years.  Company closed few years ago. Never indication on W-2 if included in wages.  Taxable or assume in wages?  

[IRonMaN]

Why don't you check with the insurance company to see how much of it is taxable?

[qbteachmt]

@Colmatt 

Whose income tax return are you working on, using ProSeries? Or, are you lost on the internet?

[Colmatt]

Not working on one.  Planning ahead for someone.  

[Just-Lisa-Now-]

Colmatt isnt a lost DIYer, theyve posted here on numerous occasions in the past.

🙂

[qbteachmt]

It's always weird when a tax question is asked in the first person perspective.

[Colmatt · Accepted solution]

Thanks Lisa....Lost in some respects, but so happy to have the help of everyone here to set me straight.