Taxes on Cash Value Insurance?
Free Advice asked:
I am recently divorced and cashed in an insurance policy total cash value was 40,000. We split the total cash value, I received 20,000. how much should I expect to pay in taxes?
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I am recently divorced and cashed in an insurance policy total cash value was 40,000. We split the total cash value, I received 20,000. how much should I expect to pay in taxes?
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