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Do you have to pay taxes on a life insurance policy payout 2024?
Questioner：Ava Wilson 2023-05-07 11:59:21
The most authoritative answer in 2024
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Sophia Wright——Studied at University of Oxford, Lives in Oxford, UK
Answer: Generally, if you receive the proceeds under a life insurance contract as a beneficiary due to the death of the insured person, the benefits are not includable in gross income and do not have to be reported: Any interest you receive is taxable and needs to be reported just like any other interest received.read more >>+119962023-05-16 11:59:21
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