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Get Your Taxes Done
I have a foreign life insurance policy inforce, paid premium annually, not distributed and the numbers are growing every year.
questions:
1) is this growth (gain) in the value taxable?
2) how do I categorize it as income (i don't receive anything), interest or dividend?
3) how to determine the number: this years surrender value minus last year surrender value as "gain"?
New York, United States
Get Your Taxes Done
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