Withdrawal from life ins policy

[Hastin]

Client has a life insurance policy which has a loan value, paid up
life insurance value and cash value. They withdrawed part of
the cash value. Is this money taxable.

I'm thinking it isn't taxable unless the money withdrawed is more
than the premiums paid, but I can't find any info on it.

[Brian EA]

Client has a life insurance policy which has a loan value, paid up
life insurance value and cash value. They withdrawed part of
the cash value. Is this money taxable.

I'm thinking it isn't taxable unless the money withdrawed is more
than the premiums paid, but I can't find any info on it.

Your client should have received a 1099 showing the taxable amt if it was taxable

[Hastin]

I ask her about the 1099

I asked her if she received a 1099, but she couldn't remember if
she did or not. Thanks for your help.