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    Pelk's Avatar
    Pelk Posts: 1, Reputation: 1
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    #1

    Sep 30, 2008, 09:12 AM
    "Investment in Contract Monies"
    I have received a check for monies called "investment in contract monies" which could not be rolled over. From TIAA Cref. What exactly are IVC monies, and am I responsible for taxes on this money?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Sep 30, 2008, 12:46 PM
    Maybe. A phone call to TIAA-CREF should get you an answer as to whether it is dividends or interest (which ARE taxable) or a return of principal (which is NOT taxable) or a capital gain (which is taxable, but at a different rate than dividends/interest).
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