If and when a policyholder elects to take the cash value of their whole life insurance policy, the amount they are required to pay taxes on is the difference between the cash value they receive and the total they paid in premiums during the time the policy was in force.3If, for example...
000.00 more of a refund for me . The CPA made 2 major errors- I reported as “interest” the dividends on my life insurance , and Roths, which she reported as “income