Client received a check for $10,000 from Aflac. It is a reimbursement of her premiums because she did not made a claim on the policy for 20 years. The premiums were never deducted as medical insurance.
Is this reimbursement taxable?
Sounds like a NO.
"mammondee" wrote
Sounds like no, with a "but". Could some of it be "earnings" on her policy? If so, that amount should be taxable. The AFLAC duck would have to send out a 1099 though.
BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.