Report a whole or universal life insurance policy and income from the policy in Part 6.

For You, Your Spouse, and Your Dependent Children

Part 6

Report a whole life or universal life insurance policy if the value of the policy was more than $1,000 at the end of the reporting period or if more than $200 in income was received during the reporting period.  Income is ordinarily reportable only if also reportable for tax purposes.

Description:  Provide the name of the insurance company issuing the policy and write “whole life” or “universal life.”

EIF:  Select “N/A.”

Value:  Report the value of the policy by selecting the appropriate category.

Income Type:  If applicable, report the type of income received from the policy during the reporting period.

Income Amount:  Select the category corresponding to the total amount of income received during the reporting period.

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