Solved: Client cashed in life insurance policy. Received a 1099-R with taxable amount of $21,000 no tax withheld. Code 7 in box 7. Is this fully taxable?

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Client cashed in life insurance policy. Received a 1099-R with taxable amount of $21,000 no tax withheld. Code 7 in box 7. Is this fully taxable?

1 Solution

Accepted Solutions

Yes.

1 Comment 1

Yes.