Cashing out whole life and taxes

They hired 81,000 agents for things just like this. Squeeze every nickel from the common man

 

Chances are your gain is next to nothing since whole life gains next to nothing. They should mail you a form with your basis to use for filing taxes.

 

Eh, they'll just drain your bank account if you don't pay anything to the IRS. Wife had that happen a few years ago. It was NOT fun. Especially why there was taxes owed. It was done illegally by her father without telling her.
Yeah, someone should've spent time in jail, but he didn't because he has $$$$$$$.

 

I got the check in the mail. It’s like every other business check with stub. There were no tax forms included. Do I use the stub for 24’s filing?
My employer has a tuition concession benefit and I used it for my son this year. We no longer claim him as a dependent so the tuition paid was considered supplemental income. It was taxed at 34% and deducted from my pay. I’ll be glad when I’m a billionaire that doesn’t have to pay taxes.

 

Lots of unanswered questions with that.

May have been on the same accounts?