I think I know the answer but thought I'd check with some more knowledgeable folks here before pulling the trigger and severely impacting our IRMAA in 2 years. DH has a couple of whole like policies that his mom took out when he was a young lad and we've been paying the premiums since. One has a cash value of approximately $30K and the other has been converted to stock by the insurance company. We pay taxes on the divs as well as interest each year.
I don't believe there will be a tax impact. Can someone confirm. Thank you.
I don't believe there will be a tax impact. Can someone confirm. Thank you.
