Ok... so yes I put off doing my taxes til the last minute... but I thought I was giving myself enough time..... problem is.... I CANNOT FIND MY W-2 form that my job sent me! I worked at 2 places this ...
Let me elaborate. It's true that gambling winnings are reported by casinos to the IRS. If you do not report these winnings, the IRS will come after you for them if the amount is at all ...
I come from a upper middle class family & guess in some ways it seems as such I have to ask why do people making over $100,000 a year complaint so much. According to the tax code it seems anyone ...
I am confused about how much my family will get back, and my husbands ss# is in the 50's so I can't see it yet on the websight, but I wondered if anyone could give me insight as to what I ...
This year he went to the casino and won a jackpot of $1800 and he sold about $3000 worth of crap on ebay. Does he have to file on his own or can i still claim him like usual....
I was wondering, if I filled my whole car up in stuff I bought from France until I could hardly get in the car to England, would I have to pay certain taxes or would they ask me to take out most of ...
they said that i was being given a grant of a couple thousand dollars because of always paying my taxes and that there was no catches to it or anything and that i would never have to pay that money ...
I tried the irs ph # and was on hold 20 min all 3 times. Does anyone know how I might could talk to someone to see if there's a problem. Husband had surgery and really need that money. A...
I am self-employed and I'm trying to wonder if I have to file a 1099-MISC to the IRS because I rented from someone a salon space for my business. Do I send a 1099-MISC to the person that I ...
Just curious if there is anybody out there that was expecting their stimulus payment via direct deposit on May 2 nd and didn't get it? According to my social security I should get it deposited ...
I bought a pair of shoes 6 months ago for £85 and the soul has come off. I still have the box they came in from the shop but no receipt. Can I get a refund or get new ones?...
OK need to know how much the computer will cost with tax. it says $498.00+tax and shipping. i know the shipping but how find the tax part. im in the state of california....
Generally speaking, life insurance proceeds are not taxable to beneficiaries.
cutiepie81289
yes
oil field trash
Neeandchris have the correct answer. You can check it out at IRS.gov or look in most any 1040 instruction book.
mrfoxhorn
No they are not. If they are held and interest is earned on them then the intrest portion is but the death proceeds are not.
semisnugzz
i think so
jesom
yes
Lio
yes
neeandchris
Generally, if you receive the proceeds under a life insurance contract because of the death of the insured person, the benefits are not taxable income and do not have to be reported. Any INTEREST you receive would be taxable and would need to be reported just like any other interest received (like interest you would receive from a savings account).
racinggirl
It depends on the policy, and what your relationship is and the amount of the policy. When my husband passed away, I was not taxed on the benefit, when my father passed away, neither my sister or I were taxed. I would check with your insurance agent to get the most accurate information. Or contact the company that issued the policy. Get it in writing.
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