Cash Surrender Value of Life Insurance

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chadm
Posts: 6
Joined: Mon May 03, 2010 8:48 am

Cash Surrender Value of Life Insurance

Post by chadm »

Does the IRS require the reporting of the increase in the cash surrender value of a life insurance policy? If so, what form? This is for a Canadian citizen with a green card filing form 1040.
JohnSt
Posts: 70
Joined: Wed Mar 07, 2007 2:33 pm

Post by JohnSt »

Foreign life insurance premiums are technically taxable (see form 720). I've read that few cross-border tax experts are aware of this one.
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