Mom Died Recently And She Had A Life Insurance Policy That Left $100,000 To Her Kids. As One Of 4 Kids I Will Get $25,000. Is That Taxable To Me?

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Death benefits from life insurance policies are not subject to income tax. However, if the life insurance and Mom’s other assets exceeds the estate tax filing threshold (currently about $5.5 million) there could be some estate tax.

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Mom Died Recently And She Had A Life Insurance Policy That Left $100,000 To Her Kids. As One Of 4 Kids I Will Get $25,000. Is That Taxable To Me?

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Mom Died Recently And She Had A Life Insurance Policy That Left $100,000 To Her Kids. As One Of 4 Kids I Will Get $25,000. Is That Taxable To Me?

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