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Do I pay taxes on monies recieved from an insurance policy from a death in the family ?

+2 votes
asked Oct 21, 2014 in Life Insurance by anonymous
   

2 Answers

+6 votes
Generally speaking, life insurance proceeds are a non-taxable event.  However, you should always discuss this with your tax advisor who knows details about your particular situation.
answered Oct 24, 2014 by Lenny Robbins
+5 votes
The death benefit of a life insurance policy is not subject to income taxes. However it will be included in the deceased person's estate tax calculation.
answered May 27, 2015 by mtooker Novice (180 points)
0 votes
Hello do you pay taxes
answered Apr 4, 2020 by anonymous

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