Life Insurance

Loss on Surrender

August 30, 2010

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Today TaxMama hears from Karla in the TaxQuips Forum, with this question.  “Is the loss on surrender of life insurance deductible on 1040?” Share this:

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Ask TaxMama Issue 554 – Memorial Day Weekend

May 28, 2010

Dear %$firstname$% It’s already Memorial Day Weekend! Remember to remember the folks who make our way of life possible. And offer more than just the obligatoru barbeque – offer thanks to all those who serve, or have served! You may have noticed yesterday that the TaxMama.com website was down. This has been a week of external, [...]

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IRS News – Is this Income Taxable?

February 5, 2010
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While most income you receive is generally considered taxable, there are some situations when certain types of income are partially taxed or not taxed at all. To ensure taxpayers are familiar with the difference between taxable and non-taxable income, the Internal Revenue Service offers these common examples of items that are not included in your [...]

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