My grandfather took out a life insurance policy when I was born, and I recently cashed in on it. Will I have to claim in on my income taxes this year?
My grandfather took out a life insurance policy when I was born, and I recently cashed in on it. Will I have to claim in on my income taxes this year?
My grandfather took out a life insurance policy when I was born, and I recently cashed in on it. Will I have to claim in on my income taxes this year?
Edit: For clairity, the life insurance policy is on ME, and I was the owner. No one died. My grandfather paid on it every year, and it built a cash value. I am now 25 years old, and I cashed out on it for the cash value it aquired.



