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jainet
New Member

life insurance proceeds

do I count life insurance proceeds?

I did not earn any interest since I paid the funeral home with the proceeds and a few bills. 

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1 Reply
JohnB5677
Expert Alumni

life insurance proceeds

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.

 

Also, see: Life Insurance & Disability Insurance Proceeds

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