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Tax on untInheritance
When my aunt died she named me as a beneficiary of a $20,000 life insurance policy and also left me $60,000 from her trust. Do I have to pay federal tax on the life insurance or on the inheritance from the trust. Will I have to pay a Michigan tax?
I am 75 years old and a resident of Michigan.
‎October 25, 2023
9:56 AM