Do You Pay Taxes On Life Insurance

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Do You Pay Taxes On Life Insurance

Generally speaking, when the beneficiary of a life insurance policy receives the 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..

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Image Result For Do You Pay Taxes On Life Insurance

Generally speaking, when the beneficiary of a life insurance policy receives the 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..