I recently cashed in a variable life insurance policy my ex spouse opened on me. What little money the policy was making was being eaten up by administrative fees and charges. I don't want to pay taxes on the money that was in the policy. I wondered if I invested it back into a Roth IRA or my IRA at work if I would still have to pay taxes on this money.
Is there any place I can roll all the money into and shelter it from taxes. It's worth approx $15000.
Appreciate any tax tips provided.