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Re: Will I or the giver have to pay any taxes on money gifted to me in excess of $15,000 (closer to $60k)? Federal, state(PA), or local? From mom via dad's life insurance.
fanfare
Level 15
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Retirement tax questions
There's no tax on an insurance payout.
Maybe your mom needs that money to live on.
‎December 7, 2020
8:26 PM
