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Life Insurance Payouts to Estate
My dad's life insurance payouts went to his estate which is still in probate. I understand now that the life insurance proceeds are not taxable; but at the time of payout, I had 10% federal income tax withheld and 6% state tax withheld. How do I report the federal taxes withheld on Form 1041 so that I can recoup them? I think I report them on Schedule G, line 14. Please verify. I'll have to figure out state taxes later.
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‎February 16, 2023
11:51 AM