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tlgw
New Member

Inheritance

 I Received money from my Dad’s life insurance policy after is death.  Does this need to be claimed and if so where?

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1 Reply
R-SchuleCPA
Expert Alumni

Inheritance

Generally, life insurance proceeds you receive as a beneficiary due to the death of the insured person, aren't includable in gross income and you don't have to report them. However, any interest you receive is taxable and you should report it as interest received.

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