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Do you have to pay income tax on life insurance policies 2024?

Harper Phillips | 2023-05-07 11:59:47 | page views：1945
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Sophia Patel

Studied at Stanford University, Lives in Palo Alto. Currently working as a software engineer at a leading tech company.
Generally speaking, when the beneficiary of a life insurance policy receives the death benefit, this money is not counted as taxable income, and the beneficiary does not have to pay taxes on it. However, a few situations exist in which the beneficiary is taxed on some or all of a policy's proceeds.
2023-05-16 11:59:47
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Ethan Lee

QuesHub.com delivers expert answers and knowledge to you.
Generally speaking, when the beneficiary of a life insurance policy receives the death benefit, this money is not counted as taxable income, and the beneficiary does not have to pay taxes on it. However, a few situations exist in which the beneficiary is taxed on some or all of a policy's proceeds.
Do beneficiaries pay taxes on life insurance? | Investopedia
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