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 Are life insurance benefits considered taxable income?

Answer Life insurance benefits are considered by the Internal Revenue Service to be taxable income under certain circumstances. The amount subject to income taxation varies depending on how the benefit is... Read More »
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Top Q&A For: Are life insurance benefits considered taxable ...

Are life insurance death benefits taxable income?

According to the Internal Revenue Service, as of 2010, life insurance death benefits are not taxable unless the policy was turned over to the beneficiary for a price. If the death benefits are inve... Read More »
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Are life insurance benefits considered income in Indiana?

On One Hand: Life Insurance Cash Value.In Indiana, life insurance with cash value does get taxed if the owner surrenders the death benefit. Calculate the amount by subtracting premium payments paid... Read More »
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Is life insurance money considered taxable by the IRS?

Not usually. In most situations, life insurance death benefits are paid to your beneficiary without income tax liability. However, when life insurance is bought or paid for by a business and compan... Read More »
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Are life insurance benefits taxable.?

Life Insurance Benefits Taxable?Death benefits are usually not subject to federal income tax. There are exceptions, though, if the IRS deems your insurance policy to be an investment in disguise. Y... Read More »
http://wiki.answers.com/Q/Are_life_insurance_benefits_taxable.


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