Life insurance

Me and all extended family live in Texas. My mother-in-law is diagnosed with terminal cancer. She has a Single Payment Interest Sensitive Whole Life policy. Does the benefit count as ordinary income to the beneficiary?

posted

No. Life insurance benefits are not taxable income to the beneficiaries.

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I want to diversify my savings portfolio and gold is an option. I dont live in the US and im not a citizen, how are capital gains managed if I only sell 1 time in my life

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