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Life insurance beneficiary

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M

modo

Junior Member
does a beneficiary have to pay taxes on a life insurance policy recieved because of accidental cause?
 


L

Litigation!

Senior Member
modo said:
does a beneficiary have to pay taxes on a life insurance policy recieved because of accidental cause?
Click to expand...

My response:

No. Proceeds of a life insurance policy are not "income" and therefore are not taxable. However, if Bush has his way . . .

IAAL
 
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