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Retirement tax questions
Assuming nothing. It depends on what the payment was for.
You're right in that life insurance is not taxable or reportable to the *beneficiary recipient" named on the policy. That's because life insurance is a "product" paid for with after tax dollars.
However, what was the settlement for? Was it for payout of the product bought and paid for? Or something else?
You're right in that life insurance is not taxable or reportable to the *beneficiary recipient" named on the policy. That's because life insurance is a "product" paid for with after tax dollars.
However, what was the settlement for? Was it for payout of the product bought and paid for? Or something else?
May 31, 2019
6:14 PM