credit card rewards
For example, Citibank has a credit card called “Citi Dividend Platinum Select”. You get 1% cashback on all your purchases. Are you legally supposed to report the rewards you get back from this as income on your 1040? Even if it’s a small amount such as about $200?
Life Insurance
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.