Question

 Are receipts from life insurance taxable?

Answer In most instances, the Internal Revenue Service (IRS) does not tax life insurance proceeds received as a lump sum payment following the death of an insured party. However, any interest received as ... Read More »
http://www.answerbag.com/q_view/1939499

Top Q&A For: Are receipts from life insurance taxable

Are receipts from surrendered life insurance policies taxable?

If the cash out value is higher than the basis, you would owe taxes on the difference. Remember that any income is only taxable once. This means that because the money you paid into the policy was ... Read More »
http://www.answerbag.com/q_view/1940889

Are life settlement receipts taxable?

There is no clear cut answer for this question as the IRS to date has not provided definitve guidance. I also must make a disclaimer that I am not providing tax or legal advice, and it is always be... Read More »
http://wiki.answers.com/Q/Are_life_settlement_receipts_taxable

Are proceeds from life insurance taxable income?

On One Hand: Life Insurance Proceeds Are Not TaxedLife insurance beneficiaries are generally not required to pay income taxes on the proceeds they receive. This includes life insurance proceeds tha... Read More »
http://www.answerbag.com/q_view/1985927

Are proceeds from a life insurance policy taxable?

The dividends earned each year on life insurance are taxable by the IRS in that year. However, life insurance proceeds paid upon the death of the policy owner are not considered income, and are not... Read More »
http://www.answerbag.com/q_view/2050791


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