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Level 2
January 27, 2021
Question

Life insurance proceeds

  • January 27, 2021
  • 3 replies
  • 39 views

My question is "are life insurance proceeds taxable"?

    3 replies

    Level 2
    January 31, 2021

    No.

    Level 2
    January 31, 2021

    Thank you for replying to my "Life insurance proceeds" question.

    Mike9241
    Level 15
    Level 15
    January 31, 2021

    if the amount received was more than the face amount of the policy. the extra amount might be interest income or additional paid-up insurance or both. You should get a 1099-INT if the interest paid was more than $10. 

    Mike9241