State Farm Dividend Distribution

JLFTUFreeForum Member, Star Posts: 100

September 11 in General

There was a State Farm lawsuit.
They are now distributing dividend payouts.

Are these payouts taxable or not?

Tagged:

• dividend
• Form 1040
• Payouts

0

Best Answer

• 

  GregW Star Posts: 27

  September 12 Answer ✓

  Generally, insurance policy dividends paid to policy holders are considered a return of premiums, and are not taxable unless they are more than the premiums paid for that policy.

  0