Life insurance proceeds

[Armand rijken]

My question is "are life insurance proceeds taxable"?

[Stokie040372]

No.

[Armand rijken]

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

[Mike9241]

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.